EXPLAINED | As India's EV Market Blooms, Five Factors To Keep In Mind Before Buying Electric Cars

Electric Car Buying Guide: The EV segment in India is going through a rapid expansion owing to the growing demand for electric cars in the country. EVs have become a preferred choice by people not just in India but across the globe. Automobile manufacturers are actively taking steps to cater to this growing demand by introducing new electric models in their product portfolios. India’s EV segment consists of a range of vehicles from Indian manufacturers like Tata, Mahindra, Ola, and Ather Energy as well as international carmakers like Volvo, Kia, Hyundai, BMW, Audi, Mercedes and many more. If you’re also looking to buy an electric car for yourself, make sure that you consider these factors before investing in an EV.

Charging Infrastructure

Unlike conventional ICE cars which are refuelled at a gas station, EVs require a charging setup to recharge the battery of the car. A major perk of buying an EV is that you do not have to line up outside a gas station to get your car refuelled as this can be done conveniently from the comfort of your home. However, EVs can not be used for long-distance drives or road trips because the EV charging infrastructure in the country is still not fully developed which might result in you being left stranded on the road because EV charging stations are not as common as regular gas stations.

Budget

Another factor to consider before buying an EV is how much money you are willing to spend on buying a new car. Electric cars are slightly more expensive than conventional ICE cars because of the usage of batteries in manufacturing EVs. On the flip side, EVs offer a reduced running cost than petrol or diesel cars because charging an electric car will not bear any cost in comparison to the increasing prices of petrol and diesel fuel.

Resale Value

There are speculations on the resale value of EVs and no specific value has been determined. One of the major questions arising in regard to the resale value of an EV is about the battery degradation over a period of time. EV manufacturers claim that a battery pack offers a minimum warranty of 10 years but would you buy a pre-owned mobile phone with potential battery issues?

Charging Speed and Range

If you have made up your mind that you want to invest in buying an electric car for yourself. Make sure that you’re aware of all the necessary features that are offered with an EV that include factors like the charging speed and range. Slower charging speed will result in you having to charge your car for several hours which can be inconvenient in case you urgently need to use your car. Another factor to assess before buying an EV is how much range it offers because lower driving range will result in you having to charge your car often on long drives which will be another hassle considering the current EV charging infrastructure in the country is not as developed.

Government Policies

Not only the manufacturers but the Indian government is also promoting the usage of EVs in the country because of various reasons like reduced carbon emissions and better environmental impact. The Indian government has introduced the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India; FAME-India initiative under which the government is offering incentives and subsidies to not just manufacturers but also buyers on a variety of vehicles such as electric two-wheelers, electric four-wheelers, hybrid four-wheelers, e-rickshaws and e-buses. The Indian government has plans to make India a global manufacturing hub for electric vehicles that will also be exported to other global markets.