EV Transition in BRICS+ Remains Reliant on Subsidy Support

Electric cars and other electric vehicles are becoming more common in BRICS+ countries.

Many governments help people buy them with subsidies, or price discounts.

These programs often focus on cheaper two-wheelers, three-wheelers, public transport, or shared transport.

India is supporting electric two-wheelers and three-wheelers through PM E-DRIVE.

But India’s two-wheeler subsidy is being reduced as the market grows.

Indonesia saw purchases rise when subsidies were available and fall after support changed.

Indonesia later renewed its support.

A report says predictable rules help buyers and businesses stay confident.

This matters because many BRICS+ countries import oil, and electric vehicles can reduce oil use.