Can Budget take a leaf out of China's BYD story to give India its own EV giant?
India's electric vehicle (EV) market is on the rise, yet it faces significant challenges, particularly in the two-wheeler segment, where many manufacturers struggle with sales. As the industry looks toward Budget 2026, stakeholders are advocating for structural reforms such as GST rationalization and enhanced support for local manufacturing to foster a robust EV ecosystem. The success of China's BYD, which grew from a small firm to the world's largest electric car company with substantial government backing, serves as a potential blueprint for India. Key players in the Indian market emphasize the need for a comprehensive approach that includes incentives for battery localization, affordable financing, and a national charging infrastructure roadmap to ensure mass adoption and competitiveness. With the right support, India could cultivate its own EV giant, transforming its automotive landscape.
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