What factors are required to be in place for adoption of EVs.?

  • 1 Answers
  • Niranjan Kumar Gupta, Hero MotoCorp
    answered 4 months ago in Q1 2020 Hero MotoCorp Ltd Earnings Call
  • There are multiple factors. The game of EV is not so easy that you put out a product in the market, and market will migrate from traditional IC engine to EV. First, there is a price factor. So if you see, even the current like-for-like vehicles are in the market, they are priced at almost 2x compared to their IC siblings. The second factor then becomes is a convenience of charging. You don't have as many charging stations as the petrol fueling stations that you have. And therefore, building up that infrastructure is another thing. Third is the time that it takes to charge. Fourth is how does it feed on acceleration, movement, when the battery dies out, a better infrastructure, battery technology, so there are plethora of factors, which will determine the EV transition from a sourcing side, manufacturing side, viability side and the customer side. So I think this is a game of -- at least, one thing is sure, that, yes, as an industry, we are supportive of this EV movement. But there will be a transition, which will be more slower than what one would be expecting.

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