However, a lot hinges on making EVs much cheaper and enticing global battery makers to produce locally. That isn’t impossible—but China, the U.S. and many other countries are alsoThe affordability numbers are stark. Tata’s Nexon, the most popular Indian EV, costs nine times the average per capita income, according to Goldman Sachs. In markets where EV adoption has grown rapidly, average selling prices clock in at one-half to two times incomes, says the bank.
That’s not to say that demand isn’t growing rapidly, albeit from a small base. Electric-car registrations have quadrupled over the past 12 months, and accounted for 1.3% percent of new-car registrations in September, according to Goldman. More choices and higher fuel prices have helped, as has a push from the government, which wants EVs to account for 30% of private-car sales and 70% of commercial-vehicle sales by 2030. It rolled out incentives for EV manufacturing as well as sales in 2019.
The average selling price of an internal-combustion car in India this year sits at $10,734, versus $20,263 for an electric car, according to Jato Dynamics, an automotive-research firm. Unless India can significantly reduce battery costs, which typically account for 40% of EV costs there, auto makers will struggle to deepen EV penetration, Jato President and Director Ravi Bhatia said.
But the big makers don’t have any such plans, probably because of the small market and lack of raw materials. For now, India’s role in batteries is limited to low-value functions such as packing, battery-management systems and casing. The government may continue its sales incentives beyond 2024, but bridging the gap between ambition and reality is going to be a tough task. Ultimately, success may depend on factors beyond Delhi’s control—for example much cheaper battery metal prices as global supply grows,
There's no planning in India for EV. No charging stations planning, no planning for semi conductors etc
Electric bicycles, motorbikes and motorcycles are perhaps a better bet! That is what are really polluting the airs of city streets! Yes, return of electric pedicabs and tricycles!
Hell no! Unsafe
uuuuuuuh, am i living in another dimension or does focusing on making its people's lives decent /at least/ still not come first
The Charging Gap is much huger, especially there.
The 'arrival' of the Atto3 from BYD has, so far, been a series of media events (with lunch). Obviously, WSJ has not covered the Tata Tiago EV, the USD 10K EV, which the whole world is talking about. As prices of fossil fuels and ICE cars go up, our EVs will be affordable. QED
I truly wonder why articles on EVs don't cover the most important matrix-energy efficiency, or-how many kms per unit of electricity does the 2wheeler/3wheeler/car/truck/bus achieve? India has millions of the best in the world, especially if you factor in 2&3wheelers. That's it
In market electric vehicles are running on road 30-40% EV car will be on road by 2025. Made in india car. We don't need Tesla here
Electric cars sucks
they wont bridge that gap till tesla is allowed to sell in india. i would say the value gap is more than affordability right now.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: snopes - 🏆 228. / 63 Read more »
Source: ABC7NY - 🏆 592. / 51 Read more »
Source: azcentral - 🏆 585. / 51 Read more »