Electric scooter makers slash prices aggressively to grab EV market share
Notable because
The aggressive price cuts by EV makers underscore their strategic pursuit of market share in the evolving EV sector, where sales for FY24 have surpassed the 1.5 million mark. This manoeuvre reflects the intensifying competition and concerted efforts being taken to make EVs more accessible and appealing. Because one key factor in consumer adoption is affordability, such price reductions could significantly impact the trajectory of the EV market and accelerate the mobility transition.
What to look out for in the months ahead
How significantly will these slashed prices from EV makers coupled with an anticipated comprehensive and consistent EV policy contribute to the growth of the EV sector?
What strategies might traditional auto manufacturers employ to adapt to the evolving EV landscape as EVs become a more viable option for consumers?