At present you can see the electric vehicles (EVs) are more costly than a petrol car in India. This stops people from buying an EV car which is why many people ask when will EV cars be cheap. So to answer this I am here and will reveal some facts which help you decide when is the right time to buy an EV car in India.
There is no doubt the EVs are the future and they are Eco-friendly compared to fuel-based engines, but the harsh truth is that these EV cars are 50 to 60% more expensive and lack of infrastructure is another big factor which is why it fails to attract a large number of the public in India.
So if the price is the main obstacle and restricts car buyers from purchasing electric cars then when will the price of EV cars drop? Is there any chance we can see the price reduction in EV cars? Well here’s what our current analysis says about the EV car prices in the Indian car market.
As you will check the Indian car market, car demand, and infrastructure, you will find that people are more prone to petrol-based cars as the filling stations are available all over India at 10 to 15 km. Even if you drive the car in rural areas/hilly areas, the reach of petrol pumps is available after each 30 to 45 km. But in the case of EV cars, the charging stations are not available in all areas and that’s why companies are still working to build a charging station network and to do so they need funds which they get by setting the price of EV cars high.
Another major point is the car batteries, which companies are importing from other countries like China, Korea, and Japan. Though there is no production of Li-ion cells in India, the EV cars are costlier than petrol-based cars.
I have covered the real reasons why EV cars are costly in India in a separate article, so you must read it once. This will give a clear picture about the EV car costs in India.
Now if you are thinking when the price of EV cars will drop? Then guys you have to wait for a few years. I have complied some points, which hints the price of EV cars will be reduced in upcoming 5 years.
- Once the production plant for Li-ion cells will be set up in India then by this initiative EV car prices will drop by 20%.
- The rest will depend on the competition, for now the competition is less, once more brands will launch new models, the EV car prices will drop further by 10% which will be very close to petrol-based cars.
At present in India, the Tata Tiago EV car and MG Comet are the most affordable EV cars which you can buy under 10 lakhs only. Apart from that, if you look for high range cars with better comfortably then Tata’s Tigor EV & Nexon EV, and Citroen’s eC3 will cost you around 15 lakhs.
Apart from that If your choice to buy an EV car under 7 lakhs only, then you have to wait for a few years. Once EV cars production will increase, more companies will join the EV car market, and the battery packs will be manufactured in India, the prices of each and every EV car will automatically drop by 40 to 50% and then a middle-class family can easily afford it.
If the rumors are right then we might expect budget EV cars under 7 Lakh and this dream will be full-filled by the Maruti Suzuki as this company always listen to public and that’s why it is ruling in petrol segment!
What’s your take on the EV cars? What do you think when EV cars become affordable in India? Please share your thoughts in the comments and spread it on social media platforms!
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