Unraveling the Factors Behind the High Cost of Electric Vehicles in India
The global automotive landscape is undergoing a transformative shift towards sustainable mobility, with electric vehicles (EVs) playing a pivotal role in this transition. While EVs are increasingly gaining popularity worldwide, their adoption in India faces a unique set of challenges, with one significant hurdle being the comparatively high cost. In this article, we delve into the factors contributing to the elevated prices of electric vehicles in the Indian market. Imported Technology and Components: Electric vehicle technology is rapidly evolving, and many of the advanced components, such as batteries and electric motors, are often imported. Importing these sophisticated technologies and components contributes significantly to the overall cost of manufacturing EVs in India. As a result, the initial investment for automakers to set up the necessary infrastructure and manufacturing processes can be substantial. High Battery Costs: The battery constitutes a substantial portion of an ele...