EV a mixed bag; India seems a big market; but are policy makers, energy infrastructure and R&D efforts aligned to support end consumer enthusiasm?

Last couple of weeks saw multiple announcements which might have disheartened futurists seeing EV as the future of mobility :-

👉 [R&D cut down] Apple canceled EV R&D and nullified their decade long effort

👉 [Lower than anticipated EV demand] As Mercedes-Benz AG CEO Ola Kaellenius emphasized the importance of hybrid vehicles (also highlighted in Toyota Motor Corporation strategy) and need for cost cutting as investments in capacity and technology developments have outrun actual EV demand

👉 [Decarbonization debate favorable for less carbon intensive economies] For an economy like India where coal dependence is very high, EVs make decarbonization nothing more than a marketing gimmick. Coupled with this grid modernization is crucial to mass scale fast charging which also favors economies with higher per-capita

At the same time, positive sentiment is driven by :-

👉 [Federal/Govt push] GOI has set ambitious target of 30% EV (of total car sales) by 2030 which currently stands at 2% and has tried to attract global manufacturers with import tax cuts. This should give boost to players like BYD, Tesla and VINFAST etc

👉 [EV infra network effects] BluSmart announced milestone of having EV fleet of 7k vehicles. Network18 Media & Investments Limited mentions "To make the platform a big hit, the company has also created a massive charging infrastructure, where it has installed 4,400 EV chargers, out of which 36 EV charging super hubs have been spread across 1.5 million sq. ft." Hinduja Group Limited 

👉 [Higher choices in PV] In next 3-4 years, Tata Motors plans 10 EV models, Hyundai Motor India Ltd. plans 5 such models by 2032 and Maruti Suzuki India Limited plans six models by 2030