Top 10 Global Electric Car Brands
|Brand||Country||Popular Model||Average Price|
|Renault - Nissan||Japan||Nissan Leaf||$30,000|
|Tesla||United States||Tesla Model S 85D||$69,500|
|Zhidou||China||Zhidou D2 EV||$21,400|
|Geely||China||Geely Emgrand EV||$22,200|
|JAC||China||JAC I EV6S||$23,500|
|Hyundai||South Korea||Hyundai Ioniq Electric||$29,500|
|Zotye||China||Zotye Cloud EV||$24,200|
|Chevrolet||United States||Chevrolet Bolt EV||$37,495|
Top 10 Most Selling Electric Cars
|Car Model||Mileage||Average Price||Top Speed|
|Tesla Model S 85D||292 Miles||$69,500||155 mph|
|Tesla Model X||295 Miles||$98,500||130 mph|
|Chevrolet Bolt EV||238 Miles||$37,495||91 mph|
|BYD e6||187 Miles||$35,000||100 mph|
|Volkswagen e-Golf||125 Miles||$31,345||85 mph|
|Hyundai Ioniq Electric||125 Miles||$29,500||103 mph|
|Ford Focus Electric||115 Miles||$29,120||84 mph|
|Bmw i3||114 Miles||$43,395||93 mph|
|Nissan Leaf||107 Miles||$30,000||93 mph|
|Kia Soul EV||120 Miles||$32,250||90 mph|
Top 5 Countries Selling Electric Cars
|Country||Market Share (%)*|
Top 5 Electric Cars in India
|Car Model||Mileage*||Average Price||Top speed|
|Mahindra e2oPlus||109 Kms||5.71 Lakh||56 mph|
|Mahindra eVerito||109 Kms||9.50 - 10 Lakh||53 mph|
|Toyota Camry Hybrid||19.16 Kmpl||31.98 Lakh||116 mph|
|Honda Accord Hybrid||20.83 Kmpl||37 Lakh||110 mph|
|Volvo XC90 T8 Plug-in Hybrid||57 Kmpl||1.25 Crore||155 mph|
Indian Government's Policies On Electric Vehicles
The world’s fifth-largest auto market is ready for the shift, transforming completely towards electric vehicles or EVs by 2030. It is estimated that this massive shift will cut country’s oil bill by $60 billion approximately and reduce emission by 37% (1 gigatonne), and control the demand for road infrastructure over next 13 years. Being part of government's vision, recently Nitin Gadkari (Road Transport Minister, India) clearly mentioned “We should move towards alternative fuel… I am going to do this, whether you like it or not”.
The government is all set to roll out a nationwide electric vehicle policy by December this year. The policy will define the standards and specifications, for the vehicles both light and heavy (like cars and buses), along with the guidelines to incentivize their use. And it is also expected to provide clarity on the rules and subsidies regarding manufacturing & batteries. The first pilot project was successfully launched in Nagpur, Maharashtra, and the state government has waived various taxes for EVs.
Battery and infrastructure are the two major areas where the government is looking into right now to bring this transformation.
Expensive batteries are one of the major reasons for the higher cost of EVs, owing to a lower demand. Though there has been a decline in the prices, from $600 per battery unit in 2012 to $250 in 2017. However, a further drop is expected to $100 by 2014 to make it cheaper than the capital cost of a petrol vehicle. The reports also suggest that government is planning to set up a manufacturing unit for batteries.
The government is planning to see 6 million electric and hybrid vehicles on Indian roads by 2020 under the National Electric Mobility Mission Plan 2020 and Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India Scheme).
Currently, subsidies of up to ₹29,000 and ₹1.38 lakh on electric and hybrid bikes and cars is available under FAME India Scheme, but the plan is to make it economically viable on its own.
Future of Electric Vehicles in India
The EVs have caught the fancy of automakers around the world, and India is no exception. Earlier this year, Piyush Goyal (Power Minister) announced, “We are going to make electric vehicles self-sufficient like Unnat Jyoti by Affordable LEDs for All (UJALA). The idea is that by 2030, not a single petrol or diesel car should be sold in the country”. Later, NITI Aayog also called for only electric vehicles to be sold in India by 2030.
But, India is not the only one with such stiff targets, there are few other countries joining the bandwagon. Norway plans to ban all petrol and diesel or non-EV/ cars by 2025 and Germany is willing to run only electric cars by 2030.
With the governments around the world planning to make a shift to electric vehicles only, automotive industry globally has a reason to explore the opportunities in this sector.
The push for electric vehicles will significantly transform country’s energy security priorities, as securing lithium supplies; a key raw material for making batteries, will be as important as oil and gas fields.
The expansion of electric vehicle market will give a big boost to the Indian economy and significantly change the landscape of the Indian automobile industry. As country shifts the gears to adopt EVs, there will be a higher demand for new, efficient vehicle components like high-density batteries, electric traction motors and charging infrastructure. The current breed of manufacturers and suppliers need to quickly scale up with better collaboration, smart investment, and establish global ties to know new technologies. Also, Indian Space Research Organization is allowing companies to get innovative lithium-ion technology, while NTPC and Bharat Heavy Electricals Ltd are also entering this space, and Mahindra and Tata are building a strong product portfolio.
The growing opportunities in this field will create new jobs, and with well-established auto sector and comparatively lower labour cost, India is in unique position to become a leading player.
Big auto player like Audi India, is all set to launch its electric car by 2020, while Hyundai too plans to launch a hybrid car. Mahindra is also on track to electrify its XUV Aero, and soon we would be able to see an all green Aero. All the major automakers are focusing on electric vehicles only, and many are que to transform their non-EVs to EV.