India's EV Transition Gaining Speed, Says Temasek's Mohit Bhandari

India's electric vehicle transition will hasten in the coming years, led by four-wheelers, while investments in infrastructure remain robust, according to Mohit Bhandari of Temasek Holdings.

The Singaporean investment major has invested in the four-wheeler EV business of Mahindra & Mahindra Ltd. and of Ola Electric Mobility Ltd. "We're optimistic about both the four- and two-wheeler EV transition. The four-wheeler trajectory will be faster," Bhandari, the managing director of investment at Temasek's local unit, told NDTV Profit in an interview.

He said the company's approach to valuation is fundamental and on a discounted cash flow basis.

"We look long-term. How big the market could be, what market share the portfolio company can gain under various scenarios, and then bring it down to profit and cash flow and discount it back," he said. "This makes the investment immune from near-term fluctuation."

Temasek has also invested in infrastructure directly and through its portfolio companies. "We have partnered with Ascendas for a logistics business and with Schneider in the industrial space."