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Could luxury car brands capture electric vehicle market in India?


India is the country with around 135 crore human population. We need some better ways in order to solve our problems. India can do better in the race of Motor Vehicles. As the world is leading towards Electric Vehicles, it is also important for India to grow in that field. India is one of the largest vehicle markets in the world. leading luxury car manufacturers are betting on the market's potential.



Indian luxury car market is set for consistent growth. Wealthy Indians consumers will continue to chase their dream cars in years ahead. The average age of luxury car owners is 35 years in the country compared to 43-45 years globally. This makes the country one of the youngest luxury car market. Mercedes-Benz is the best-selling luxury car maker in India followed by BMW and Audi.

Launch of multiple priced models at various price points coupled with smart financing schemes and a robust dealer network is boosting the sales of luxury cars in India. Historically luxury car sales have been robust in cities such as Mumbai and Delhi but players are now targeting other cities with untapped potential.

By 2020 the luxury car makers are focusing to launch hybrid and electric vehicles. Indian Government plans to ease the import norm by eliminating restrictions on price and compulsory local testing on luxury cars, bikes, and electric vehicles. As per the proposed new rule, manufacturers can import 2500 units annually without any clearance test. This new law is expected to motivate the luxury car makers to launch new models in the segment.

Which electric vehicle companies produce the best cars? Many car manufacturers are beginning to roll out electric vehicles, all offering gasoline-free driving packaged in a unique car experience. Because electric vehicles are still relatively new to the road, most car companies currently only produce one EV model.

EVs are a separate class of vehicle from traditional gasoline-powered cars, and it’s vital to understand how to compare your different electric car options. Your top choice of electric car may be the one with the highest range, or you could be looking for the most inexpensive option. An electric vehicle can be a serious investment, and it is important to make sure that the vehicle you are purchasing has a positive review history, and is generally respected in the car industry.

It’s a mark of the maturity of electric car technology that there is now a small but very fast-growing market for premium-branded EVs – and that every manufacturer is desperate to be seen to be at the very forefront of it.

Some of them are offering a luxury angle, others a performance bias – and some a bit of others. Some cars within it are big, others not so big. And while some come from established automotive industry powers, others are from more ‘disruptive’ outfits.

Efforts of Indian Electric Vehicle Market:


The Indian government is reportedly planning to procure luxury electric cars to further lease them out to cab aggregators in an extended push to enhance electric mobility in public transport. India unveiled the 'National Electric Mobility Mission Plan 2020' in 2013 to address the issues of national energy security, vehicular pollution and growth of domestic manufacturing capabilities. 
Observing its commitment to the Paris Agreement, the Government of India has plans to make a huge shift to electric vehicles by 2030. E-commerce companies, Indian car manufacturers like Reva Electric Car Company, and Indian app-based transportation network companies like Ola are working on making electric cars more common over the next two decades.

Arrangements made to encourage Electric Vehicle in India:


In February 2019, Blu-Smart mobility launched all-electric cab service in Delhi-NCR with a fleet of 70 Mahindra eVerito cars. It has plans of expansion to 400 cars by March 2019.  The company also has plans for Tata Tigor electric, Nissan Leaf, BMW i3 and Tesla 3 in their fleet. So far the company is running only 10 cars in Delhi NCR and not a single charging station has been installed.

Cost-cut in Electric Vehicles:


The cost of EVs is very high mainly due to the cost of Li-ion cells. The battery packs are imported and cost a lot, about $275/KWh in India. This combined with the GST of 28% and the lack of lithium in India, further increases the cost of batteries. Most EVs in India provide a range of 110 km and cost between Rs. 6-8 lakhs which does not give a cost advantage compared to higher range cars in the same price range.


Pros & Cons of Electric Vehicles in India




India is highly populated and the number of cars on the roads are more or less the same. So keeping in mind if a car which if at all able to give a range of 500 Km per charge than what are the Pros and cons?

Some Pros are:


·        Savings on fuel since the electric range will be high.
·        Maintaining an electric car is easy and economical.
·        Charge intervals will be minimal if you travel daily a few Kms.
·        Eco friendly and futuristic.
·        No oil changes, no engine noise, not much mechanical intervention.

Some Cons are:


·        It will be hard to tackle the weather changes (in some particular regions).
·        Not always you find highways, we have potholes and pathetic roads too.
·        It’s not easy for any firm to enter the Indian market with a lot of formalities.
·        Indian infrastructure is not so friendly to set up charging stations.
·        It might hit hard on the oil industry and they might lay a big risk to newcomers.The big range comes with a big price.
·        Not everyone can able to afford an electric car.


Electric Vehicle’s Future in India:




What is the future of electric cars in India, therefore? I think the Chinese might come to the rescue. Sure, India’s trade deficit with China is ballooning, but they could have the answer to affordability and driving costs down, with their scales of mass production. Take, for example, the Roewe Marvel X electric car, a remarkable piece of affordable engineering by the Chinese. It has a 54 kilowatt-hour battery pack, which gives it a range of 500 plus kilometers at an average speed of 60 kilometers per hour.

Despite the battery, despite the luxurious interiors and voice-activated controls, it costs just $40,000 (around Rs 30 lakh), which is not bad at all for a car the size of a Jeep Compass. So, a combination of cheaper, more affordable cars alongside an improvement and build-out of the infrastructure can make electric cars a reality, but let’s not hold our breath and expect an overnight change, like some of our policymakers do.

Conclusion:


India needs to progress as conditions in India are worse than other conditions. Some of the Indian cities have the worst noise pollution levels in the world. Electric vehicles may contribute to a reduction in noise pollution levels in the cities. Energy efficiency and emission reduction has improved in automobiles.



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