Swapnil Jain, Co-founder and chief technology officer at Ather Energy is of the opinion that the electric two wheeler industry will not require incentives beyond a couple of years.
"I don't think beyond a couple of years we would need incentives," Jain told Autocar Professional on the sidelines of the Symposium on International Automotive Technology (SIAT), an event organised by ARAI in Pune.
He emphasised that in future, the need is to be able to build a business without incentives and his company's entire R&D focus is to bring down the cost of the
products while maintaining reliability and quality. "There is a very clear path to make it happen," Jain said.
In addition to reducing cost, the most important thing from the product side and the technology side is continuous innovation, bringing new products and new features for the customers, he added.
Talking about the challenges facing the electric two-wheeler industry, Jain noted that at times there could be headwinds from global supply, which impacts the electric vehicle industry as well. Another important need for the industry, explained Jain, is to have stability and clarity over the long term for companies to make significant investments.
Underscoring the growth potential for electric two-wheelers, Jain pointed at the similar current spur in demand for SUVs in India. He continued that no one would have thought they (SUV) would become so big in India. "But the people who invested in SUVs are now reaping the benefits," the top executive stressed before continuing that the Indian market is upgrading, and customers want better products while at the same time being cost-conscious.