Sridhar Vembu, the founder of Zoho and a billionaire, recently purchased a Mahindra Treo electric three-wheeler. Vembu took to Twitter to make a few suggestions about the scooter, emphasising the product’s potential.
“The form factor of this electric vehicle, as well as the price point (take-home price under Rs 3.5 lakhs), make it a very affordable family vehicle.” Prices can be reduced as a result of increased volume. This vehicle’s design has the potential to be extremely cool. People ask me where I got my car when I’m driving on rural roads.” Vembu’s tweet read as follows:
“On the electric vehicle line, please offer a variety of designs and colours. Provide options that are suitable for families and children. Come up with a creative marketing campaign to help these low-cost electric vehicles gain traction. They have a lot of potential, in my opinion. I really enjoy driving one! “Added he.
According to Forbes, Vembu’s personal wealth exceeds $2.5 billion, in addition to Zoho. Even though the Indian government and state governments continue to encourage people to buy electric cars, the EV market remains a small part of the country’s overall automobile industry. One of the main reasons for this is the high cost of EVs, especially electric cars, as well as other factors such as India’s nascent charging infrastructure.
Nitin Gadkari, the Union Minister of Road Transport and Highways, recently stated that India is only one EV revolution away from turning things around and bringing the cost of electric vehicles on par with that of gasoline and diesel vehicles.
Gadkari spoke at the Indian Chamber of Commerce’s annual session and FY21 AGM, which was streamed live online. “Within two years, the cost of electric vehicles will be comparable to their gasoline counterparts,” he said, adding that the government is working to expand EV charging stations.
“By 2023, we plan to install 600 electric vehicle charging stations along major highways.” “The government also wants to make sure that the charging stations are powered by renewable energy sources such as solar or wind,” he added.
“The cost of EVs is high because their number is small,” Gadkari said. He claims that India is on the verge of an EV revolution, with 250 startups working on low-cost EV technology development. Furthermore, major automakers have joined the fight to reduce the cost of producing electric vehicles. Electric vehicles are subject to a 5% GST, and the cost of lithium-ion batteries is also decreasing.
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