Price Correction May Occur in Electric Vehicles

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Price Correction May Occur in Electric Vehicles: You can get the batteries for your vehicles either from the original manufacturer or any other energy provider. However, the Government permitted to register electric vehicles without their batteries. Also, as a result of this, there may be some correction in the price range.

However, the transport department of all the states and union territories and transport commissioners received a letter from the central Government on 12th August. The Government is trying to take steps towards creating an ecosystem for prospering electric driven vehicles in India. Moreover, it is the time when nations have to give full effort to make a vehicular pollution-free environment and cut down the oil import costing. Besides, it will also provide chances to sunrise industries to prosper.

Price correction may occur in electric vehicles

The electric vehicles have a greater chunk of their cost for their batteries. It amounts to almost 30%-40% of the total cost of electric cars. The Government believes that apart from this, the upfront cost of the vehicle will be thus, lower than petrol, diesel, and CNG-driven two-wheelers and three-wheelers.

Also, the letter said that anybody could obtain the batteries from the original equipment manufacturer(OEM) or the energy service provider.

Manufacturers welcomed the proposal: Price Correction May Occur in Electric Vehicles

Navin Munjal, the managing director of Hero Electric, said, “We welcome the new policies of the Government. I am extremely happy with the possibility of excess individuals having access to electric vehicles. Also, these types of policies will run for a longer period.”

Further, Amit Raj Singh, co-founder and managing director of GEMOPAI, expressed that this new policy will lower the cost of acquiring electric vehicles. He thinks it will give a higher profit to the logistics players transporting on electric vehicles.

However, a senior executive of one of the leading electric two-wheeler questioned the policy of the Government. He expressed that we cannot neglect the price of the batteries. Electric vehicles cannot operate without batteries. Therefore, people need to buy them whatsoever.