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Speed breakers for EVs: High prices, quality concerns, range anxiety
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IANS | 14 May, 2023
While electric two-wheeler adoption sees a significant rise in the
country, the same has not been observed with EV passenger four-wheelers
due to high prices, range anxiety and EV quality being the topmost
concerns among the buyers.
The high price point remains a significant challenge for automakers looking to launch EVs in India.
Range anxiety is also a significant concern for Indian consumers due to the insufficient availability of charging stations.
To
address this issue, companies such as Sun Mobility, BatterySmart,
RACEnergy, Numocity, ChargeUp, Bounce Infinity, and Sheru are offering
battery swapping services, primarily for two-wheelers.
Following
the success of NIO's battery swapping model, some companies are
attempting to replicate it for the Indian passenger car market,
according to industry experts.
About 50 per cent of Indian
consumers are now open to buying EVs, albeit with a caveat, while 54 per
cent of consumers are now concerned more about EV quality.
According
to John Martin, analyst, smart mobility practice, CMR, the potential
consumer for EVs is more concerned about the overall EV quality.
"EV
quality includes not just external build quality, but refers to the
overall quality of internal components used - including battery and
others," Martin said.
Driven by ongoing policy thrust at the
central and state levels for EV infrastructure development, along with
upstream R&D in battery development will ensure a significant uptick
in ramping-up e-mobility.
"For OEMs, the focus should be on continuous awareness generation around the quality and potential of EVs," Martin noted.
However,
to ensure a smooth transition to EVs and provide long-term value to
customers, "it is crucial to lower purchase costs by improving battery
technology, expand the charging infrastructure, and standardise charging
sockets with faster recharging", said the CMR analyst.
Although
the benefits of switching to electric two-wheelers are clear, there are
many challenges to overcome, with 'range anxiety' being the most
prevalent barrier among the consumers, according to a RedSeer report.
"The
range offered by most electric two-wheelers in the market is much
higher than the average distance travelled, which is about 25 km, with
90 per cent of the users travelling less than 50 km/day. However, a long
ride is still a challenge in electric two-wheeler owners' minds," said
Aditya Agrawal, partner at Redseer Strategy Consultants.
Although
the purchasing cost of electric two-wheelers is slightly higher, they
win when it comes to running costs compared to their Internal Combustion
Engine (ICE) counterparts, he added.
The electric two-wheeler
ecosystem must work on '4As' to achieve more than 80 per cent
electrification by 2030 -- adaptability, awareness, availability, and
affordability, according to experts.
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