Traditional automakers struggle with profitability and scaling in India's EV sector, despite financial incentives.

A Bernstein report indicates that traditional automakers are struggling with profitability and scaling in India's electric vehicle (EV) sector, despite financial incentives. Established companies like Bajaj Auto and TVS Motors face significant challenges, while Ola Electric leads the two-wheeler market with higher gross margins. The sector heavily relies on government subsidies, with the report suggesting that only a few startups may achieve mainstream success amidst ongoing competition.

September 25, 2024
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