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Electric Vehicles Will Threaten IC Vehicles in Next 5-7 Years: Bajaj’s Director

Future of electric vehicles is definitely bright but do you think they will make our current petrol motorcycles obsolete? Here is one view from an industry expert…

The last two years could be called as the major foundation stones in terms of electrification of the automobile market in India. There has been a major push, along with incentivisation from the Government and as a result, there is a new electric vehicle maker sprouting out every other month.

Apart from various start-ups and other players, two major manufacturers – TVS and Bajaj ventured in this space in the two-wheeler arena with iQube and Chetak respectively. Though monthly sales are still in double or early triple digits, there is a generic consensus that the market will grow in the times to come.

Future of Electric Vehicles

Rakesh Sharma, who is the Executive Director at Bajaj Auto and President of International Motorcycle Manufacturers Association (IMMA), believes that electric vehicles will become a grave threat to conventional internal combustion engine vehicles in the next five to seven years.

He believes that as the cost of batteries will come down, the segment will catch up. He is of the opinion that there will be a major transition to electric vehicles in the coming two-three years.

future of electric vehicles
Rakesh Sharma of Bajaj Auto (left)

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Here it is in his own wordings..

The customer is value conscious; the last few years’ trend indicates that if the power storage cost reduces, the business will pick up pace. The general consensus is that in five to seven years, EVs will become a real threat to conventional IC engines.

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It will be interesting to see how will things pan out in the electrification of automobiles, but one thing is for sure, there will be many more takers when eventual prices get reasonable and the availability of charging infrastructure improves. But will your current petrol powered motorcycles and scooters become obsolete…?

Source – Autocar

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