What are the reasons behind Coimbatore’s automotive firms viewing EV transition with trepidation and opportunity

1. Uncertainty in technology: Automotive firms in Coimbatore are cautious about the EV transition due to uncertainties surrounding the technology and infrastructure required for electric vehicles. 2. High initial investment: Companies are concerned about the high initial investment needed to transition their manufacturing processes, supply chains, and workforce to electric vehicle production. 3. Market demand: Some firms see the increasing demand for electric vehicles as an opportunity for growth, while others are hesitant due to the slower adoption rate compared to traditional vehicles. 4. Regulatory environment: The evolving regulatory landscape, including emissions standards and incentives for electric vehicles, adds complexity and risks for automotive firms in Coimbatore. 5. Competition: Firms must also consider the competitive landscape as other companies invest in electric vehicle technologies, potentially impacting their market share and profitability.