A study was done by the business consulting firm Frost and Sullivan stating that 40% of the car users in India want to pay less for an electric vehicle than they pay for a conventional petrol or diesel car. Another set of 30% people say that they will pay as much as a conventional car, while only 15% of the Indians say that they are willing to pay more for the electric car rather than conventional cars. And right now the electric cars are priced 25% more than the conventional cars running on petrol or diesel.
The government of India has been pushing the idea of electric cars all over the country and has said to electrify them by 2030. But this is not going to be easy with this mindset of the people. But with the cost of ownership of a vehicle continuing to be the most important factor in the success of a vehicle since people are still not ready to accept a whole new technology in their home.
The Indian consumers do not have very high expectations as far as range is concerned since 60% of the people asked for 150 km range which slightly more than the electric vehicles which are currently available in the market including Mahindra e-Verito or Tatae-Tigor. But then comes the Tier-2 consumers whose expected range is more than Tier-1 customers.
All this is all because of the very less information about electric cars and the new technologies going on in the market. In India, only a few customers are aware of the electric vehicles which are launched in the market. The awareness level is low amongst the Northern and Eastern regions whereas the Southern and Western regions had a comparatively higher percentage of awareness. Overall, consumers in India are only somewhat aware of electric vehicles. 75% of the population is aware of the mid-hybrid technologies suggesting that India shouldn’t completely shut down mid-hybrid vehicles in the country.
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