Electric Cars to Stay in Moderate Path in India
With combating climate change as a business-driving purpose, the electric cars market has been gaining popularity globally. These vehicles are proving to be an alternative for petrol- and diesel-based motor vehicles, further allowing us to combat crises like air pollution and depletion of natural resources. Moreover, some parts of electric cars are made from recycled materials, making the production of these vehicles extremely eco-friendly. For all these reasons, more and more people are considering buying an electric vehicle.
However, when it comes to the electric vehicles market in India, several hurdles seem to be a roadblock in its progress. Some of these include reliability, brands, legal issues like car insurance, etc. These issues are bound to be at the same pace for the foreseeable future. Using electric cars as a mode of transportation in India could mean energy savings of up to 64% and 37% lesser carbon emissions. Despite that, the momentum for electric vehicle sales is moderate.
While the government promises a wide range of steps that can encourage the adoption of electric vehicles, how it will work out remains questionable. We have enlisted a few reasons why electric cars are moderately desired in India. Here, take a look!
Absence of Market Leaders
While many brands are manufacturing electric vehicles, they are new to the automobiles market with little to no brand presence. Additionally, leading automobile brands show no signs of manufacturing electric vehicles under their name. Since they have both a long-standing customer base and a strong brand presence, electric vehicles introduced by the top manufacturers are bound to enhance the reachability of the vehicle in Indian households.
However, the gap between the up and coming electric vehicle brands and the lack of interest shown by the existing manufacturers has diminished the chances of popularity for electric cars in India.
Another reason that electric cars are not as prominent in India as many other countries, is the lack of production infrastructure. The production of electric vehicles is very different from regular cars. Even if companies have the resources and time to manufacture electric cars, their economic factor is completely different. Many experts believe that Indian car manufacturers should rather consider a hybrid model before jumping into producing electric vehicles.
Accessibility
Remember when at any time you drive a car and run short on petrol/diesel. What do you do? Simple, you stop at the nearest fuel station for a refill. This facility is easily accessible because we have a significant network of fuel stations spread across the country.
When it comes to electric cars, what’s needed is a battery recharge station. Considering the electric vehicle industry is new, it will take a lot of time to install charging infrastructures to ensure everyone has access to this facility at any time and anywhere in the country.
Besides, we are yet to implement dedicated insurance rules when it comes to electric cars in India. At the moment, we have comprehensive car insurance plans providing extensive coverage to our four-wheelers in case of accidents, theft, or loss due to unforeseen events.
Moreover, you can easily buy/renew car insurance online from the comforts of your home or on the go. The same access is yet to be available for electric vehicles. And how much do you think electric car insurance in India would cost? While we have a car insurance calculator to determine the policy cost for regular vehicles, such a tool will need improvements when calculating the premium cost for electric cars.
