Primary keyphrase – Should I buy an electric car in india in 2021
Associated keywords: buy an electric car, right time to buy EV; electric vehicles in India,
Background:
Electric vehicles are certainly more in news today than they were for the past few decades. The market seems to be gaining momentum steadily, thanks to manufacturers finally realizing the potential of the EV market, with supporting policies by the government.
That leads to a significant question – “Should I buy an electric car or bike in 2021? Is it the right time yet?” Let’s try to find an answer to these questions by looking at some of the crucial aspects related to the EV industry:
Performance:
One of the core reasons why electric vehicles had been looked down upon for ages, is low performance. And investing money in vehicles that just refused to speed up to even the normally acceptable levels, didn’t seem worth it.
EV vehicles of today, though, seem to be crossing the barrier. Electric scooter companies like Ather, Ola Electric, and Simple One have introduced high-performing scooters that easily go beyond 80-100 kmph. Budget/mid-tier electric cars can easily go beyond 100 kmph, while premium cars like Jaguar and Mercedes can go up to 180-200 kmph.
On the performance front, the answer to the question that we started with, is definitely positive.
Charging:
Charging an electric vehicle is not as easy as refueling your vehicle at a fuel station. The charging hassle was hence a major downside for electric cars of the past. Things seem to be better today when we look at the different charging options provided by manufacturers, and their focus on establishing charging networks.
EVs of the present take between 6 to 9 hours to charge completely, using standard charging sockets. That might still seem a lot, but there are fast charging options available too, which can charge your EV to 80% in under 60 minutes (on average). Manufacturers are also focussing on creating charging networks across cities to facilitate on-the-go charging.
Charging technologies and infrastructure have improved a lot today but they are yet to reach a stage where customers are free from charging-related worries. Hence, on this front, you may want to wait a bit more before buying your first EV.
Price to value:
When it comes to pricing, electric vehicles will definitely seem costlier than their fuel-based counterparts. And that will be the case for a few more years from now, until technology advancements, innovation, and economies of scale lower the overall production costs for the EV makers.
EV companies also promise long terms savings of using electric vehicles as compared to fuel-based vehicles. For example, for a daily commute of 50 km with a fuel price of INR 100 per litre, the Tata Nexon ensures 5-year fuel cost savings of INR 4 lakh 75 thousand, along with he environmental savings.
From a long-term perspective, EVs will remain a good investment, especially with the fuel prices touching the 100 rupees mark in the country.
So, should you buy an electric car or bike in India today?
After assessing the EV market on the above three broad parameters, it is safe to say that investing in an EV today would not be a wrong choice. Companies are pushing the boundaries to offer better products that are powerful and convenient to use.
If you are someone who likes to adopt new products at an early stage, or if you’re looking at a good intra-city commute option, and if you are living in a metro city, then it is definitely the right time for you to get an EV today.
As the EV infrastructure is still developing, and options such as charging stations will take time to set up in non-metro cities, we would recommend that you hold on a bit longer until EV charging becomes a bit more convenient and easier.
Made up your mind yet? Let us know.