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EV industry must learn to do with subsidies: Exponent Energy CEO

Economic Times · 6m

Electric mobility ecosystem should not rely solely on government subsidies like the Faster Adoption and Manufacturing of Electric Vehicles (FAME) program, according to Arun Vinayak, CEO of Exponent Energy. Vinayak suggests moving towards performance-based incentives and production-linked incentives, rather than easy subsidies. The Indian government has recently transitioned from FAME subsidies to the Electric Mobility Promotion Scheme (EMPS). Exponent Energy, founded by former Ather Energy executives, has developed fast-charging technology that can fully charge a vehicle in 15 minutes. Vinayak also emphasized the importance of interoperability in charging infrastructure and the need for safety standards, without forcing standardization that hinders innovation.