Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I am a full-time journalist working in the automotive domain since 1999. I have worked with some of the biggest automotive media titles in India, starting with Autocar, BBC TopGear, and Times Auto. Currently, I am Editor-in-Chief at carandbike.com, where I lead the digital content arm and support their business goals. My role requires ideating content across all our digital platforms, keeping an eye on automotive and related news in India and around the world, evaluating new car and bike launches, and advising consumers on buying and owning them. I am also a jury member on the World Car of the Year - a global platform where automotive journalists from around the world pick the best cars of the year.  

Q2. Based on your experience, are Indian buyers showing a preference for Strong Hybrids over Battery EVs for long-distance travel, and which OEM’s portfolio is most 'at risk' if the government equalizes GST for Hybrids?

There is definite interest in new-age alternatives to ICE-powered vehicles, such as BEVs and strong electric hybrids. And the interest is rising for two main reasons - one is the advanced technology, both in terms of connected cars and driver aids that these bring as default with the package, and the icing on the cake is lower running costs. The latter has been a bigger push, especially given the volatile nature of petrol and diesel prices, which seem to have become very sensitive to global geopolitical tensions. The once robust supply chain now seems very fragile. But EVs are not an easy solution for all, hence hybrids seem to be an interim solution for that set of customers, especially for the new future till they are able to fully commit to BEVs. This is considering BEVs are expected to have the current running cost advantage in the future as well. 

Q3. When EV subsidies (like FAME-II/III) are reduced or altered, do you observe an immediate 'Search Pivot' where consumers move their sessions from EV models back to ICE (Internal Combustion Engine) or Hybrid models within the same price bracket?

Currently, EVs do not have any major cost advantage for entry/buying. But if the gap is large between the two, then there will be some natural hesitation on whether the extra premium can be recovered. EVs also become a way of life - eg, charging convenience at home/office, saving time. But the way the segment and infrastructure are perceived to be growing, maybe the shift, if any, might be temporary and then settle down. 

Q4. What is the current 3-year depreciation delta between a mass-market EV and a comparable ICE vehicle? Is the 'Used EV' market showing enough liquidity to support high Loan-to-Value (LTV) ratios for banks?

Depreciation of EVs is more, not on paper, but in perception. Used EV purchases are quite low currently, as overall new sales volume is also low. But the market to sell used cars is not very positive and an area of concern. Makers will have to step in here to ensure their machines fetch a certain value. They are assuring to buy back for the same depreciated value, but usually the rider is that you buy another EV from them, which again is a shackle. Maybe some independent certification of used EVs can help.   

Q5. Is there a specific price point or segment where 'Safety Features' (like ADAS or 6 Airbags) stop being a 'Sales Driver' and start being a 'Cost Burden' that consumers refuse to pay for?

Definitely. Affordable EVs don’t exist currently. A good one with all bells and whistles costs at least Rs. 10 lakh plus, which is a deterrent for those on a budget. Unfortunately, regulations - despite their good intent - have only made vehicles more expensive and out of immediate reach of many. This is where used cars are coming in.

Q6. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

What is their long-term strategy rather than their immediate impact?

Companies need to be in there with customers for the long haul. Are they agile enough to play along with market trends, or are they banking on one brilliant tech solution? 

While we all talk about tech, mobility has to be the core of the enterprise. And have they thought of the emotional connection to their vehicles? A smartphone on wheels cannot bring loyalty.