Extremely well written. I would like to answer some of the questions you have mentioned in your post.
Market Share: This data can be directly obtained from Vahaan database. Attached is the data from the last fiscal year. Similarly, month on month data is also available, just search “EV sales May 2024”
Price Point: Calculating this is challenging due to the various variants available. However, according to CESL’s latest tender, the average price is around ₹1.92 crores. For more details, refer to the source : https://www.convergence.co.in/public/images/procurement/March-2024.pdf
Will try to get more information on L2 bidders and pricing on this.
I am also concerned about the lack of commentary from management, especially when you compare it to Olectra. But then again, Olectra’s management has a track record of missing their estimates by a big margin, which is also worrying.
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