Czech automaker Skoda is not likely to drive in its electric car in India anytime soon as it thinks the market is not ready for such vehicles because of the high acquisition cost compared with internal combustion cars, a top company official has said.

The automaker, which sells models such as the Rapid and the Superb in the market right now and is gearing up to drive in SUV Kushaq in July, has also decided to stay away from diesel powertrains for now and bring in only petrol-powered cars.

“The economics of electric (vehicles) doesn’t work in the mass segments just yet. The battery prices have come down but not to an extent where they could compete with internal combustion engine cars and that is some years away,” Skoda Auto Volkswagen India managing director Gurpratap Boparai said.

The electric vehicle business is not viable currently as the economics do not work, he added. He was responding to a query whether the company is looking to launch electric vehicles in the country.

“Having said that the group is the one that has committed the most to electrification globally, and great steps have been taken in other markets. Those steps will get replicated here when either incentives are sufficient or the costs have come down,” Boparai noted.

Under the India 2.0 Project, German automotive group Volkswagen had announced in 2018 that it would invest 1 billion euros between 2019 and 2021 as part of its strategy to enhance its presence in India. Skoda is responsible for pressing ahead with the India 2.0 project on behalf of Volkswagen Group since June 2018. Boparai said the Volkswagen group would have its representation in the electric segment with a premium offering from group firm Audi.