The electric car market is increasing rapidly in India with newer option arriving in relatively quick time. However, is it right time for you to buy an electric car? Here are five reasons to consider.
- Battery life: Many manufacturers offer a generous warranty on battery packs. Replacing a defected or aged battery may involve massive costs.
- High upfront cost: Electric cars are generally more expensive than their petrol or diesel counterparts. This means that they are not affordable by majority of Indian consumers. Although some electric cars are now available at lower price points, they still have a higher upfront cost compared to similar conventional cars.
- Limited charging infrastructure: One of the biggest challenges for electric cars in India is the limited charging infrastructure. While some major cities like Delhi and Mumbai have started developing EV charging stations, they are still limited in number and not widely available.
- Number of vehicles at home: If an EV will be your first car, it is highly recommended to reconsider your decision.
- Resale Value: There is not much clarity on how your EV will fetch in the market if you plan to sell.
