Electric car buying guide for 2023
Buying a new car the upcoming year 2023? You have arrived at the right spot, as we discuss if this is the right time for you to invest in electrics or should you continue with the traditional ICE choices. Given the number of options available deciding the right car you need as per your requirement can be a tedious task but here we break down the decisive process in the simplest possible way to make your buying experience easier.
The government has been supportive of the electric technology as it has been offering a number of incentives to the private buyers as well as manufacturers. Not only a customer can save tax when he or she opts for an electric vehicle purchase, but the government is also offering several subsidies that bring down the overall cost significantly. At the same time, to incentivise the sellers, FAME II scheme (phase 2nd) is currently in seen in action.
- Do you have a personal parking space at home?
This is a basic requirement for anybody aspiring to own an EV. This is because most of the juicing up of the car will be done while being parked back at home. Also, this bring us down to the question whether or not this parking space can be equipped with a charging socket. If answer to both of these questions is yes, then you are a step closer to making the EV dream possible.
- Do you have access to a nearby public charging station?
There might be times when there is a power cut at home and you desperately need to get your car charged. Thus, a nearby public EV charging station could very well come in handy.
- Will this EV serve as your primary car?
You are good to go if you already have a car at home (which is not electric) however, there are challenges aplenty if you think an EV can serve as your primary car. While the government has been actively upgrading the charging infra in the country along with private players, these stations are yet not as readily available as say a regular fuel stations.
Also, electric cars take much longer to recharge, so you will find yourself stuck in case you want to head out immediately and there’s no charge in the car.
- Do you regularly go road-tripping?
While electric cars nowadays have decent range to be used as daily commuters (in city boundaries), in terms of touring or traveling longer distances, they still might not be the best way to roll as they have limited range, and on the contrary, a regular-fueled car will get to distances without any range anxiety.
EV Batteryreplacement isn’t cheap
If you are okay with the above concerns, then definitely you are a step closer to being a proud EV customer. Electric vehicles are not just relatively more affordable to maintain but they are also cheaper to run (as fuel prices soar). However, you must also consider the possibility that your green vehcile might need a battery replacement a few years down the line which doesn’t come cheap. Generally, batteries make up about 35-40% cost of an electric car and replacing it anywhere before the car has put down at least a lakh kilometres on the ODO simply doesn’t make sense.
What are the best electric cars in India under Rs 20 lakh?
On the other hand, options from MG and Hyundai cost higher. Mahindra is also looking forward to announcing the XUV400 EV in India in January 2023 which would give competition in the Rs 12-Rs 18 lakh range.
What is FAME-II scheme in electric scooters, why it matters?
The FAME-II subsidy is a type of benefit introduced by the government to boost the switch to electric vehicles and reduce the overall carbon footprint produced by automobiles. Currently the FAME-II scheme offers benefits by 50 percent to Rs 15,000/kWh for OEMs. In simpler terms if a scooter costs Rs 1.72 lakh (ex-showroom), and its battery capacity is 2.9kWh. So under the FAME-II subsidy, the Indian government pays Rs 43,500 (Rs 15,000 x 2.9kWh) to the OEM which brings down the cost close to Rs 1.28 lakh (ex-showroom). So basically, the government is paying a part of the overall cost of the scooter on your behalf to the company.