By Abhishek Gautam
June 24, 2023
India is a price-sensitive nation. On average, electric cars in India costs around Rs 8 lakh to Rs 15 Lakh, which is comparatively higher than the ICE vehicles.
Experts believe that range anxiety in customers due to the lack of charging infrastructure in India is the major barrier for EV switch.
There is no dedicated financing structure for the purchase of electric cars in India as well as the charging station set up.
Being a new industry, the electric vehicle technology is changing rapidly. This leads to the potential concerns about the resale value of EVs.
Several subsidies and schemes are available to offer EVs at an affordable price in India such as FAME II and PLI scheme.
Currently there are around 2,987 DC fast charging stations in India, and the number is increasing exponentially week.