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EV Companies Struggles In India: It's darkest before the dawn in the EV revolution, ET Auto

EV Companies Struggles In India: It's darkest before the dawn in the EV revolution, ET Auto

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EV Companies Struggles In India: The carmakers who’ve promised multi-billion-dollar plans to pivot to battery vehicles are being savaged by equity investors, with shares in General Motors Co. down 30% since the start of August and even perennial market darling Tesla Inc. falling 16%. An automotive chief executive officer can’t stand on a stage these days without downgrading some aspect of their EV rollout plans. While sales are still growing at double-digit rates, expectations of a rapid switch away from conventional drivetrains have taken a hit.
The carmakers who’ve promised multi-billion-dollar plans to pivot to battery vehicles are being savaged by equity investors, with shares in General Motors Co. down 30% since the start of August and even perennial market darling Tesla Inc. falling 16%. An automotive chief executive officer can’t stand on a stage these days without downgrading some aspect of their EV rollout plans. While sales are still growing at double-digit rates, expectations of a rapid switch away from conventional drivetrains have taken a hit.
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