Auto majors hold steady on EV plans as pandemic wrecks ICE market

Encouraged by demand pick-up in the past few months, most are going ahead with their planned investments and models

Topics
Auto industry | Electric Vehicles | Work from home

Shally Seth Mohile  |  Mumbai 

The core ICE (internal combustion engine)-powered vehicles of auto companies have been badly bruised by the pandemic, but that has not derailed their plans for the electric vehicle segment. Encouraged by the demand pick-up in the past couple of months, most of them are going ahead with their planned investments and models despite the current crisis, according to top officials at these companies.

As a matter of fact, they are a lot more bullish on the road ahead for battery-powered vehicles. The only exception is Bajaj Auto, which has de-prioritized its EV plans for a few months, after ...
First Published: Sun, August 30 2020. 19:16 IST