Eco-friendly EVs are the vehicles of the future. But, while zero tailpipe emission, higher energy efficiency and almost nil running costs give EVs an edge over ICE cars, the lack of charging infrastructure, high prices and metals used in the batteries remain areas of concern.
In the recently-presented Union Budget 2022-23, the Centre made it clear that electric vehicles or EVs are going to be the future of mobility in India in the next decade. The annual sales of electric two-wheelers have witnessed an over 5x growth in this financial year, The Economic Times reported.
Despite the growth, EV penetration is still low at 0.8 percent. Some of the reasons for slow adoption are range anxiety, lack of charging infrastructure and high cost of cars. On the other hand, rising fuel prices have pushed buyers to think of more affordable vehicle options.
Here’s a look at the pros and cons of buying electric vehicles.
In a bid to address concerns over range and charging of electric vehicles, Finance Minister Nirmala Sitharaman in the Union Budget announced that a battery swapping policy and inter-operability standards would be formulated soon.
The government would encourage the private sector to develop sustainable and innovative business models for battery swapping or battery as a service, the finance minister said.