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EV adoption is a marathon, not a sprint: Audi India
Mint Mumbai
|November 16, 2024
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
BloombergNEF predicts global electric car sales to grow at an average of 21% per year in the next four years, compared with 61% between 2020 and 2023.
While some global car makers, including Toyota Motor Corp., are taking the slow track on electrification, Audi plans to go fully electric by the year 2033.
"A lot of incentives have been given to the industry in the past. Whenever the incentives are taken back, you will always see this slowdown that happens. But I think all of this is temporary," Dhillon said at the Hindustan Times Leadership Summit 2024 on Friday.
"We are running a marathon. It is not a sprint," he said.
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