The EV business begins to turn the corner
new delhi, June 2 -- After pumping in money for several years, Indian automakers are finally beginning to see their electric vehicle (EV) businesses moving towards profitability.
EV businesses of top car makers Tata Motors and Mahindra and Mahindra (M&M) are already operationally profitable-a crucial milestone towards full profitability-even as Hyundai Motor India said its flagship EV is per-unit profitable. These three companies account for nearly two-thirds of the electric car market. Meanwhile, two-wheeler majors Bajaj Auto, Hero MotoCorp, Ather Energy and Ola Electric are hopeful of turning operationally profitable soon. Achieving net profit, however, is some distance away for both segments.
The trend comes on the back of strong FY25 EV...
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