Along with the world, there is a period of electric vehicles in India at this time. Almost every company selling cars in the country has either launched or is preparing to launch its electric cars. On the other hand, PM Narendra Modi's government has also targeted to make the country a leading country in electric mobility by 2030. But will this dream be really fulfilled, because the expectation about the kind of EVs companies is making.
The large population of India still falls in the lower middle class. In such a situation, cheap electric cars are needed inside the country, but if we look at the electric vehicles present in the country, then most of the focus of companies is on luxury EV.
Most of the new electric car which are going to come in the market in the country or whose price are to be revealed, the price is above Rs 15 lakh. It also includes Maruti Evitara, the first electric car of Maruti Suzuki India, the country's largest car company. Its price is between Rs 17 lakh to Rs 22 lakh.
Among the two EV cars launched by Mahindra & Mahindra, the price of BE 6 is between 18.9 lakh to 26.9 lakh rupees. At the same time, the price of XEV 9E ranges from Rs 21.9 lakh to 30.5 lakh rupees. At the same time, Tata Motors' safari EV can be 32 lakhs and Harrier EV can be up to 30 lakh rupees.
If Kia's curtain EV will be 16 lakhs, then the price of EV6 can be 63 lakh rupees. Apart from this, MG Cybester 80 lakh, M970 lakhs, then byd Sealion 7 can also go up to Rs 50 lakh.
In the country's EV market, where most of the cars are worth 10 lakh and more than 15 lakh rupees. At the same time, the need is more of cars with a range of 5 to 10 lakh rupees. To solve this problem, many companies are working on distributing the cost of electric cars, learning from China's experiences.
JSW MG Motor India CEO Emirits Rajiv Chaba told ET that with the launch of Windser, we worked on the 'Battery Age A Service' option. This helped prevent rising prices of EV. Finance options were also developed to make battery subscriptions easier.
He said that the cost of battery is the highest in any EV. Therefore, we introduced a buyback plan at a 60 percent price after 3 years with Windsor. This guaranteed the customers that after running the car for 3 years, they will get 6 percent of its price. While the first owner of the car was also offered by the company on the battery.
