Kerala has overtaken more industrialised states in personal electric vehicle adoption, driven by strong middle-class uptake, policy support, and charging infrastructure.
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
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