
India’s EV Market Resets Post-Subsidy; BNP Paribas Sees Strong Structural Growth Ahead
India’s electric vehicle market is entering a phase of recalibration. The revision of subsidies under the PM E-DRIVE scheme in FY26 — slashed from Rs. 5,000/kWh (capped at Rs. 10,000/vehicle) to Rs. 2,500/kWh (capped at Rs. 5,000/vehicle) — …