SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Covid-19 likely to delay penetration of electric vehicles in India: Ind-Ra

26 Oct 2020 Evaluate

India ratings and research (Ind-Ra) in its latest report has said that the coronavirus disease (covid-19) pandemic is expected to delay the penetration of electric vehicles (EVs) in India. It cites low affordability and the government’s priorities on reviving existing conventional automobile industry as reasons for the probable shift in focus away from EVs in the interim.

According to the report, the passenger vehicles (PVs) segment of e-mobility will face a double whammy, as consumers would be wary to buy a costlier EV than an internal combustion engine (ICE) vehicle, while original equipment manufacturers (OEMs) would refrain from incurring high capital expenditure (capex). It also said reduced affordability and lower economic activities due to the pandemic could result in the automobile industry recording a decline in sales of over 20 percent year-on-year for the second consecutive year in FY21.

Ind-Ra further said this is likely to impact the sales of EVs, which are costlier than an ICE vehicle. It noted that two-wheelers have benefitted from rural demand and shift to personal mobility, and the segment could be the least impacted with regard to electrification due to better pricing and model choices. However, it said three-wheelers and buses, which have seen higher electrification in 2019, are among the most affected segments in FY21 and hence could see a delay in electrification.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: