Electric vehicles (EVs) are hailed as the future of mobility for good reason, given the ecological imperative to contain carbon emissions and hold off global warming. Its EV industry is set to boom. Local EV makers would be better off waiting for component standardization and then forging tie-ups with successful foreign players (as some have tried) to achieve volumes and the viability granted by economies of scale. Batteries are getting cheaper, but it’ll be several years before EVs prompt people at large to trade their old wheels in for these. This is the problem that public investment in EV market development must focus on.

Source: Mint May 09, 2019 17:37 UTC