Auto majors hold steady on EV plans as pandemic wrecks ICE market

The core ICE (internal combustion engine)-powered vehicles of auto companies have been badly bruised by the pandemic, but that has not derailed their plans for the electric vehicle segment. Encouraged by the demand pick-up in the past couple of months, most of them are going ahead with their planned investments and models despite the current crisis, according to top officials at these companies. As a matter of fact, they are a lot more bullish on the road ahead for battery-powered vehicles.

The only exception is Bajaj Auto, which has de-prioritized its EV plans for a few months, after a high-profile