Electric Vehicle (Ev’s) - Is This The Right Time?
One of the biggest transformations in the Automotive Industry experienced in recent times is the introduction of Electric Vehicles (EVs) The level of innovation and interest in the space has accelerated, backed by a desire to reduce pollution levels and dependence on oil imports has further bolstered the case for EV adoption in India.
Consumers in India are very high on buying an Electric Vehicle. Most of the consumers are hoping to buy an EV by the year 2023; however, few strategists are not considering it to happen before the end of year 2025.
As per one of the industry surveys, it is said that more than 70% of American Consumers are keen on owning an electric vehicle for personal use in near future. However, almost 66% of Indian consumers said that they will wait and watch for some more time before deciding to buy one.
EV Cars in India ranges around INR 20 lacs. Such mid segment family cars take approximately 30 to 50 minutes to full charge which gives driving experience up to 400+ Kms, thereby reducing the running costs to an average of a single rupee per kilometer.
Let us consider a few important factors before you make up your mind to own one for yourself:
Price Point
Indian Consumers are majorly price centric and to shift to Electric Vehicles, they are still considering ‘wait and watch’. They are expecting to see lowering of prices by brands in near future so that it becomes affordable for public in general. Indian selling price average of EV cars being Rs. 20 Lacs is already lower than the global average of Rs. 25 Lacs. With more and more subsidies and benefits, it can be a good buy.
Fuel price
With an Electric Vehicle, consumers no longer have to worry about the fluctuating petrol and diesel prices. While the government changes the fuel prices depending on global trends, as an EV consumer, you won’t need the fuel anymore and can drive in peace forever!
Environment
Fluctuating environmental conditions are global phenomena and India is not an exception; hence, this is one of the most significant reasons for people to consider opting for EV cars. While the Government and Non-Government Organizations are taking various efforts to work on the environmental challenges, public at large considers buying EVs and support in a good cause. It’s good to be Eco-friendly and help to reduce the pollution.
Charging Stations
It is said that usually it is taking between 30 to 90 minutes to charge EV cars and it depends on the type of the Car. This is still considered as a major challenge in India and probably that may be holding the actual sales of EV cars in India.
Less time to charge and more charging stations availability can lead to better adoption of EV cars by the Indian consumers. There should be higher numbers of charging stations installed at quick intervals. In metro cities, especially in high rise complexes it will be difficult to charge the EV cars and hence they will mostly rely on public charging stations, leading to increase in their wait time.
Conclusion
With better infrastructure, reduction in pricing, environmental benefits, and other advantages, consumers may consider buying Electric Vehicles for their personal use. The change in a buying pattern can benefit both – the pocket and the environment. So, if you are planning to buy a new car, switching over to an EV currently available in the Indian market can be a perfect choice for you.
