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Are electric cars popular in India?
I'm interested in buying an electric car, and I have a cousin in India who might want to do the same. Will it be practical for her to buy one there? Are electric vehicles even popular in India?
Chanice Boyd · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question—your cousin will have fewer options than you do, but not for long because
electric cars
have become a lot more popular in India. Though production growth is sluggish, many people in India are more interested in electric cars than before. According to the Council on Energy, Environment and Water, in 2021, the country sold more electric vehicles than any previous year—selling 121,900 units, which accounts for 1.66% of their 20 million automobile sales.
Though it does seem to be rising in popularity, manufacturing and production are lagging. India’s Prime Minister, Narendra Modi, wants to change that with a $3.5 billion plan to boost manufacturing.
Among the population, you find that people want access to electric vehicles, but the problem is its practicality.
So what’s the hold up:
- The average cost of a car is 700,000 rupees, roughly $9,000 USD, making it hard for foreign brands to compete in the market.
- There is still a lack of functional framework and incentives for electric vehicle ownership.
- Challenges with the range as there are too few charging stations.
- Battery resale value; Most of India’s automotive market depends on second-hand cars, so used material will have to be available and priced accordingly.
As they grow, a collaboration between the government and manufacturers will be essential to solve or reduce these problems, but the market should expand over the next decade.
As for you, a new electric vehicle might bring about changes to your car insurance.
Jerry
shopfor will help get you on the right track. It’s this simple: download the Jerry app or go to getjerry.com. In less than 45 seconds, Jerry collects all of your information from your existing insurer. Choose from competitive quotes from 50-plus top insurance providers, and Jerry takes care of the rest—securing your new policy and helping you cancel your old one. No long forms. No calling around. No hard work. Just savings. The average Jerry user saves $887 a year on car insurance.
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- Gregory R.
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