India wants to become the leading space in the global electric vehicle market. As several automotive companies in the country work in electric vehicles, BEV’s revenue has increased significantly over the past five years. Several startups have been created in the segment, along with their respective products and technologies, along with traditional car manufacturers.
(Also read: Five Things to Know Before You Examine a Family Electric Vehicle)
The passenger vehicle segment has had little penetration because some OEMs have marketed their products in space. But in the two-wheeled and three-wheeled segments EVs have seen a greater rise boosting the offensive of green mobility in India.
Customers are louder than before when it comes to buying electronic vehicles. But there are still a number of challenges in the country that are creating barriers to the growth of electric vehicles.
Here are the challenges and benefits of Indian electric vehicles.
1.) Range Anxiety – District anxiety is one of the crucial challenges facing the growth of electric vehicles in India. EV customers are often concerned about the ability of vehicles to reach point B from point A before the battery runs out. This problem is closely related to India’s poor cargo infrastructure. India’s Ev Charging infrastructure is too small compared to petrol pumps. Also, the available Ev charging stations are only concentrated in urban areas.
2.) Consumer perception – Consumer perception of electric vehicles in India is still weak compared to ICE vehicles. Anxiety bundles, lack of cargo infrastructure, a wide gap between the prices of EV and ICE vehicles, uncertainty about the fair value of resale play key roles in this. Although Indian consumers are becoming increasingly open about adopting e-mobility, there is still a negative perception about EV.
3.) High price – In India there is no price parity between electric vehicles and ICE vehicles. Electric vehicles are much more expensive than conventional fuel-powered ones. For example, the price of the Tata Nexon starts from there ₹While the price of 7.19 lakh, Tata Nexon EV starts ₹13.99 lakh. This huge price difference is forcing many interested EV buyers to stop making the final decision to buy a BEV.
4.) Low battery technology – Lithium-ion battery is the most popular and widely used source of energy for electric vehicles. India does not produce lithium. The country also does not produce li-ion batteries. India relies on imports of EV batteries to make the price of these important components expensive and eventually EVs as well.
5.) Most EVs are not covered within the FAME scheme – The Indian government has made an effort to promote electric mobility in the country through incentives and discounts. The terms and conditions of the FAME scheme do not support most electric vehicles. Low-speed electric two-wheeled, lead-acid EVs with batteries are not included in the FAME. Expensive high-speed vehicles, on the other hand, require registration and a driver’s license. As a result, many customers are reluctant to buy EVs.
6.) Lack of product – There are hundreds of options for buying a regular fuel-efficient car or two-wheel drive. The case is completely different in the EV segment. There are only a few options and most of them are not from trusted established brands. This keeps customers away from buying EVs.
1.) Low cost of ownership – Many studies have shown that EVs offer a lower cost of ownership in their Life Cycle compared to fossil fuel powered vehicles. Sometimes, the cost of owning an EV is 27% lower than that of a fossil fuel vehicle. The steady rise in gasoline and diesel costs increases the cost of owning conventional vehicles.
2.) Easier to maintain – An internal combustion engine usually has more than 2,000 moving parts. On the other hand, an electric motor in the EV has about 20 moving parts. The only important components in an EV are the battery and the electric motor. This makes EVs much easier to maintain, significantly reducing the cost of ownership.
3.) State EV policies – The governments of several Indian states have already announced their respective EV policies. Some of them are in favor of supply, while others are in favor of demand. There are EV policies that promote supply and demand through incentives, discounts and other benefits. Delhi Ev policy, for example, is a state-level EV policy. These policies are driving the growth of electric vehicles in India, a slow but steady continent.
4.) Cleaner environment – The direct and obvious advantage of adopting electric mobility is a cleaner environment. Electric vehicles do not emit pollutants into the air like their ICE counterparts. EVs are silent, as opposed to ICE counterparts. This means that EVs ensure a cleaner and quieter environment.
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