Exports Crucial For India's EV Startups To Grow: Ex-Niti Aayog CEO

Speaking at the second edition of the Ather Community Day in Bengaluru, Amitabh Kant, former Niti Aayog CEO, said other countries may race ahead of India if domestic firms do not prioritise entry into major global markets.

By Amaan Ahmed

1 mins read

Published on April 6, 2024

Highlights

Former Niti Aayog CEO Amitabh Kant believes India's auto industry will grow faster once it penetrates major global markets.
Kant urged startups, including Ather Energy, to prioritise taking well-engineered, made-in-India products to other countries before other countries catch up.
Don't burn cash and sell your products at a loss: Kant.

Former Niti Aayog CEO Amitabh Kant has urged India's electric vehicle (EV) startups to prioritise exports of their products to major global markets. Speaking at the second edition of the Ather Community Day, in Bengaluru, Kant said India's auto industry will only grow at a rapid pace if it looks keenly at entering markets overseas before other countries have a chance to latch on to the early mover advantage.

Citing the examples of Chinese firms such as BYD and CATL in the EV industry, and consumer durable giants such as Samsung and LG, Kant said firms like Ather should be working towards becoming a household name, not just in India but across the globe.

Kant highlighted that while India's EV startups have gotten off to a strong start and helped the country rise to prominence in the world of light EVs, they cannot afford to linger and let firms from other countries race ahead and beat Indian companies to major auto markets overseas.

Also Read: Ather Energy Crosses 2 Lakh Units Production Milestone

On the subject of what startups should focus on, Kant advised that firms should avoid burning cash to be able to capture market share by selling their products at a loss.

“Never burn cash and sell your products at losses. If your product is good, it will sell. Don't sell for cheap. Create a brand that is aspirational for India's middle class. Customers will pay more for a good product”, Kant said.

Charger interoperability is another major topic which Kant believes must be addressed by every OEM engaged in the electric two-wheeler manufacturing business, adding that two-wheelers from all brands should be able to use each others’ charging stations in the years to come.