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Prices of Electric Vehicles in India – Cost of Electric Scooter, Cars, Electric Buses – Tata, Mahindra, Hero, Ather, Ashok Leyland


Last updated: Feb 2020 by Narasimhan Santhanam



This posevnext-logo-v-smallt is a part of EV Next’s EV Perspectives.

EV Nexta division of EAI, is a leading market intelligence & strategic consulting firm for the Indian e-mobility sector.


 

Introduction

Electric vehicles are not just eco-friendly, they are also wallet-friendly, or should we say, credit-card friendly. Using electricity as the main fuel for your car could save your Rs 3-4/Km compared to use of diesel or petrol in a typical ICE driven car, which over a few tens of thousands of Kilometers could result in savings upwards of a lakh and even more, over the lifetime of the vehicle.

So, clearly the economics is in favour of electric vehicles when it comes to running costs.

The key challenge in the context of costs is thus the upfront cost.

Currently, electric vehicles cost anywhere between 25-40% more than their conventional equivalents. That represents a significant additional amount to be paid upfront – in the case of cars, this could work out to an additional Rs 2 lakhs or higher.

Costs for other electric vehicles are higher than their conventional counterparts too. For some types of electric vehicles, for instance the electric bicycles, their prices can vary widely from one region to another, depending on the types of materials used in making the bicycle and more important, the type of battery used – Li-ion or Lead Acid.

E-bikes in China are quite inexpensive. By utilizing lead-acid batteries, the cost of e-bicycles in China averages about Rs. 10,000. In comparison, e-bikes in North America and West Europe cost on average in the range of Rs. 50,000 to Rs. 1,00,000, with some luxury models of e-bikes costing even over Rs 2,00,000! Almost all these expensive models use Li-ion batteries.

Such a high upfront cost has been a bottleneck for the faster adoption of electric vehicles in India and elsewhere. Thus, if the capital costs (and hence prices) of electric vehicles start coming down, one can see a significant growth in the sales and adoption of electric vehicles across all types.

Ex-Showroom Prices(INR) as of January, 2020  excluding the GST and FAME II subsidies.

Electric Two Wheelers
Company Product Price
22 Motors Flow 74,740
Ampere Reo Elite 45,099
Ather 450 / 450X* 1,10,000 / 1,32,0007
Bajaj Chetak Electric 1,00,000/ 1,15,0000
Orxa Mantis* 3,00,000
PureEV ePluto 7G 79,999
Revolt RV400 98,999
Tork T6X* 1,50,000
TVS iQube 1,15,000
Ultraviolette F77* 3,25,000

IMG_9937

22 Motors Flow – Electric Scooter 

 

Electric Auto Rickshaws
Mahindra E-Trio 2,22,000
Gayam Motors Urban ET 3,25,000
Piaggio Ape-E City 1,97,000
Lohia Auto Comfort E-Auto HS 1,49,000
Kinetic Green Safar Smart EV 2,20,000

 IMG_2749-min

Mahindra E-Treo

 

Electric Cars
Tata Tigor EV 9.17 Lakhs
Nexon EV 13.99 Lakhs
Mahindra Electric e2o Plus 7.5 – 8.2 Lakhs
eVerito 9.75 Lakhs
Hyundai Kona 23.86 Lakhs
MG Motors ZS EV* 22.6 Lakhs

IMG_2518

Hyundai Kona Electric 

 

Hybrid Electric Cars**
Toyota Camry  37.88 Lakhs
Prius 45.1 Lakhs
MG Motors Hector Hybrid 16.78 – 19.61 Lakhs
Lexus ES 300h Luxury 56.95 Lakhs

IMG_9368

Toyota Prius Plug-in Hybrid Vehicle

* Vehicles yet to be sold commercially

**Hybrid vehicles have a GST of 28% as opposed to 5% on Fully Electric Vehicles.


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Know more on how EV Next can assist your business in your strategy for the e-mobility and electric vehicles sectors, Here

Wish to know everything about India’s EV market from one place? Check out the India EV Expert Guide, an 800 page comprehensive guide to the Indian EV marketHere


 

Comprehensive Inputs on Indian EV Ecosystem

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Categories: E-mobility, Electric Two-wheelers and Three-wheelers, Electric Vehicle Segments, Electric Vehicles

Author - Narasimhan Santhanam


Thank you for reading this post – hope it was helpful. You can connect with me at narsi@eai.in. My detailed profile here and my LinkedIn profile here

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