The Indian EV market relies heavily on government subsidies to make vehicles more affordable for consumers
Recent price reductions by some EV manufacturers suggest an increase in cost competitiveness
Automakers may need to adjust their strategies to improve profitability if subsidies are reduced
Without subsidies, EV prices could become a barrier, potentially slowing down the adoption rate
Ultimately, the aim is for the EV market to become self-sustaining and contribute to sustainable mobility