EVs won't bring quick gains, players must see volume growth: Pawan Goenka

Pawan Goenka says EVs need to expand gradually and a hundred per cent shift by 2030 is not possible

Mahindra & Mahindra, known for its utility vehicles (UVs), has seen competition surge, pulling down its market share. The company’s next bet is electric cars, but the government recently decided to drop the idea of an electric vehicle (EV) policy. Pawan Goenka, M&M managing director, talks to Ajay Modi about the company’s market share and product plans. He says EVs need to expand gradually and a hundred per cent shift by 2030 is not possible.   
 
M&M’s passenger vehicle (PV) sales have grown at five per cent this year on a flat performance in FY17 against industry’s eight per