EV market going to broaden; Maruti Suzuki top pick for 2024: Kumar Rakesh
Kumar Rakesh of BNP Paribas discusses strong demand for electric two-wheelers, caution in two-wheeler segment, impact of FAME II end on EV demand, tractor industry cyclicality, and top pick for 2024 being Maruti Suzuki. In case of EVs. we have seen a very strong demand for electric two-wheelers in March. April will be much weaker adjusting for this pre-buying, but May onwards, penetration expected to start inching back.
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