(PTI)
In a bid to boost volumes for the struggling electric vehicles segment, State Bank of India Monday launched a discounted loan for buyers of such vehicles pricing 20 basis points lower than its existing auto loans.
Of the 3.6 million (FY19) car industry, EVs constitute around 1,000 units per annum, according to industry data, and together with two-wheelers the industry notches up over 54,000 units annually despite the many policy pushes to promote this segment of transport. But the two-wheeler segment in a 20 million business annually now.
Many in the industry blame the lack of policy clarity for the poor-show by this segment as the government has only been setting deadlines without thinking about the basic infrastructure and the billions of dollars of investments needed for that.
