Government Subsidies May not be Necessary for Electric Cars to Gain Popularity

Published By : 21 Sep 2017 | Published By : QYRESEARCH

In India, electric cars are made by just one company: Mahindra & Mahindra Ltd and this company has announced a partnership with Ford Motor Co. for projects involving electric cars and driverless autos. Mahindra & Mahindra Ltd believes that the electric car business will not require the subsidies from government to make the business take off in a grand way. While the demand for electric cars has been sluggish on account of the high expense as compared to the autos which make use of gasoline and diesel, it is estimated that in the years to come, battery powered cars or plug-in hybrid cars will become extremely popular.

Do Not Miss Out on Growth Opportunities in Electric Car Business

Tesla Inc. debuting its first mass-market EV and Volvo Car Group vowing to make use of electric motors in all its new cars within two years are two good news for the electric cars market. Mahindra & Mahindra Ltd feels that this is not a trade off but a single business opportunity for the next couple of decades which should not be missed. Anyone who is not looking at these opportunities will regret and miss out on the great growth potential of electric vehicle market.

Support from Government is All that is Required!

Although clean and green business choices made today will give rich dividends tomorrow, companies do not need subsidies from government for expanding into these green areas. Governments can simply support and encourage the efforts by communicating it to the citizens of the nation, which is exactly what India’s PM Narendra Modi did, by announcing a commitment to go electric or solar. 

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