Will you buy an electric car in 2025? Here are the biggest factors to consider

Also Read : 10 electric cars coming to India soon

India is the world’s third-largest vehicle market in terms of sales. But EV (electric vehicle) penetration here is under seven per cent as against over 12 per cent in the United States and around 30 per cent in China. The Government of India is aiming for an EV penetration of 30 per cent by 2030 but certain factors at play will determine the course for the next five years.

What are the biggest obstacles?

Electric two-wheelers have attained a certain level of price parity with combustion-engine counterparts. Newer players like Ather and Ola Electric are giving tough competition to the likes of Hero, Hero Electric and TVS. Even Honda recently unveiled the Active e:.

But cars are a much more expensive purchase regardless of powertrain options. After property in fact, an automobile is the biggest investment made by an Indian in his or her lifespan. As such, the willingness to take the plunge into a new technology would be limited.

Also Read : 92% EV owners won’t go back to conventional cars, finds survey

But the two biggest obstacles surely are the cost of acquisition and range. The most-affordable electric car in the country at present is the MG Comet which starts at around ₹7 lakh (ex-showroom). But it is a city-commute vehicle with limited range. Then there is Tata Tiago at ₹8 lakh (ex-showroom) which too is limited by its range of around 300 kms per charge.

Also watch: MG Comet EV real world test: Day out in Old City

In a country where four-wheeler penetration is still at around 26 cars per 1,000 people, electric cars are restricted to urban pockets and mostly to those who usually own at least one other vehicle.

What are the opportunities?

EV prices are coming down the world over. Battery costs are declining while battery technology is improving. This is a great paradox for customers at large because a lower acquisition cost will be a major shot in the arm for the EV industry as a whole.

In India, Maruti Suzuki is all set to launch its first-ever EV – e Vitara – at the Bharat Mobility Expo in January . Hyundai will also drive out its Creta EV next year while Mahindra has already launched its BE 6 and XEV 9e. Expect more electric cars from the luxury brands as well.

Increasing the number of options means that chances of EVs finding more takers, at least in urban centers, will also improve. Plus initiatives like BaaS from JSW MG Motor under which you pay for the battery as rental based on your driving distance means that the manner in which EVs are owned are also changing.

But what about range?

Two pivot points here. Firstly, the number of public charging points is increasing all the time. While still mostly concentrated in cities and on key points on major highways, the coming years will see a wider coverage in a public-private partnership format. Secondly, battery tech development means that even mass-market electric cars in the future are likely to offer a respectable range that could make them viable for occasional long drives. In a country where range anxiety is a very real issue, these factors could bring about a wave of change.

Check out Upcoming EV Cars in India.

First Published Date: 16 Dec 2024, 13:26 PM IST