Consumers also need reassurance on purchase costs, driving range, charging availability, and resale value.
Chennai: India’s electric-car market is witnessing two distinct trends: established players such as Tata Motors are finding that EVs can generate significantly more revenue per vehicle, while newer entrants are grappling with the harder task of convincing consumers that electric cars are affordable, convenient and practical to own. The findings suggest that selling an EV is no longer simply a question of highlighting its environmental benefits. Consumers also need reassurance on purchase costs, driving range, charging availability, and resale value. VinFast is seeking to address these concerns through measures including incentives for switching from internal combustion engine (ICE) vehicles to EVs, buyback programmes and free maintenance, among others.
India’s EV market is thus moving beyond the question of whether consumers will adopt electric vehicles. The next phase will be shaped by two parallel challenges: how automakers can generate more revenue per vehicle from EVs, and how they can remove the cost, charging and ownership concerns that still stand in the way of mass adoption.