(Source: Economic Times)
"Hero will spend Rs 10,000 crore on research and development of alternative mobility solutions in the next 5-7 years. The leading player in the two-wheeler industry with a well-established supply chain and the service network, has recognized the upcoming trend of shared mobility. This will provide them with the opportunity to become the front runner in the industry in a well-established two-wheeler market." – Pavel Naiya
Key Takeaways:
- The move will accelerate the adoption of electric vehicles in India and globally.
- In the long run, the real competition will take place between automakers vs technology inventor.
- Bigger challenge will be towards setting up a local technology supply chain rather than depending on Chinese supply chain, which will increase the costs in the long run.
- Local regulation will play a very curial role in shaping the industry.