Automakers' EV drive could be turning into a loss-making affair. Here's why

The domestic automobile industry's electric mobility ride may be turning into a loss-making affair, thanks to an aggressive pricing by few players in a race to gain volumes. In the two biggest tenders for e-cars and e-buses that have been finalised in recent months, price quoted by some companies has left industry peers surprised. These low prices have in a way become a base for the future transactions.

Take the case of the tender for ten thousand electric cars finalised by EESL in October last year. M&M, which has been the first mover in domestic electric vehicle (EV) space, was