Investors' Perspectives on Electric Vehicle (EV) and Allied Industry: An Exploratory Research in Mumbai City

This study explores investors' perspectives on investing in the Electric Vehicle (EV) and allied industry. Key findings indicate that financial advisors and social media influence investment decisions, with investors prioritizing long-term strategies driven by ESG concerns, industry growth potential, and government policy support to industry. However, a survey of 164 respondents revealed that 113 are not investing in the EV industry, citing high buying costs of EV, lack of stability amongst EV producing companies, and low returns to the companies leading to loss to investors as well. Despite 52% acknowledging potential better earnings, respondents rated India's EV policies, PLI-ACC & PLI Auto schemes, and financing models in comparison to other nations as merely "adequate". But investors investing in EV and allied industry have optimistically strong evaluation for financing models in India in comparison to other nations. Suggestions included improving quality, services, and infrastructure, making EVs more affordable, and promoting eco-friendly and cost-effective solutions to drive investment and adoption in the EV sector. Awareness campaigns are also recommended to enhance market reach and attract further investment.