Indians Are Snapping Up Electric Vehicles—Just Not the Ones Major Automakers Are Selling
For three decades, the world’s major automakers have been piling into India, tantalized by a teeming population of consumers with rising incomes and relatively few passenger vehicles. In the new age of electric vehicles, the country’s allure has been even greater, representing the last big and all but untapped EV market on the planet. But all of them have largely struck out with buyers. General Motors, Toyota, Volkswagen and Renault are among the laggards and just plain losers: Last week, Ford, with $2 billion of losses over a decade in the country, pulled out entirely.