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The explosive economic growth in India and around the world had improved the quality of life of people but it had also led to high levels of environmental pollution. Industry analysts hoped that the environmental problems could be solved with the use of electric vehicles. Several automobile companies including Toyota Kirloskar Motors Pvt Ltd, Mahindra Electric Mobility, and Tata Motors Ltd had already entered into the electric four wheeler segment in India. The Indian Government had also taken many initiatives to promote the sales of fuel efficient cars. In 2018, Mobile handset Maker Micromax Informatics Ltd (Micromax) announced its plans to enter into the electric two and three-wheeler vehicle segments, since the handset and consumer electric segments was becoming hypercompetitive. Moreover, there were very limited players in the electric three-wheeler segment, and this sector was largely unorganised. Micromax was trying to regain its market share and maintain its position by diversifying into this unrelated business. But foraying into the EV market was very challenging as battery technology was very expensive and it required special charging infrastructure which was still limited in India. Had Micromax taken the right step by foraying into the EV space? Would Micromax's unrelated diversification strategy payoff in the long run?