Exploring Alternative Paths to Success for Electric Vehicle Manufacturers in a Post-FAME Era

In response to the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India Scheme, EV manufacturers must assess their current strategies to adapt to the changing market and remain profitable. A&M Managing Director Manish Saigal and Senior Director Abhishek Kochar explain how manufacturers in the automobile industry must look beyond price and focus on strategy through value engineering, reduced features, differentiation, product diversification and other factors.

"The industry is currently confronted with immediate challenges in the medium term, primarily focused on how to navigate a substantial increase in costs and intensifying competition. In such times, it becomes crucial for EV OEMs to identify the appropriate strategic levers to deploy. Rather than relying on a single approach, a practical approach for these manufacturers is to adopt a combination of different strategies."