Anand Mahindra, the chairman of Mahindra Group, during the company’s annual Employee Meet 2018 had a very different take to offer on how the electric vehicle revolution is likely to pan out across the globe.
During the chat he told the people to not hype up the electric vehicle revolution. “People who buy vehicles for personal use will continue to buy them because of the brand they represent, he said, adding that what will change is commuting from point A to B. This is where he thinks ride sharing, fleets and economic cars will change the game. He said the trend here will be towards “How strongly a company builds their brand will determine their success and not some over-expensive, sporty looking electric car.”
To conclude, he said that there will be three markets for the electric vehicles to conquer in the future, the first one being commoditised commuting market, then lifestyle and recreational vehicles, and lastly the hypercar market.