Launch of new Electric vehicles in India 2021 – An insight into the future market of electric vehicles, possibilities, and benefits of the electric cars

The concept of electric vehicles has already been introduced in India long back. Unfortunately, there was a setback in the year 2020 due to the pandemic and the entire automobile market went down. However, the space for electric vehicles in India is live now again and will soon be hitting the automobile market.

Like the other markets are reinventing themselves after the steep downfall, so is the Indian automobile sector. The technology development in the electric vehicle sector is growing at a lightning speed. This industry is heading towards minimizing the downfall and uncertainty and maximizing the growth and possibilities.

Although the problems and uncertainties still exists but the ultimate goal is to welcome the more efficient and lesser polluting vehicles for transporting humans as well as goods.

Companies which are about to launch the Electric vehicles in India and the ones which are working on it

Almost all the car manufacturers whether big or small, luxury or economical, are all set to launch the electric cars to lead in the race of the electric vehicles in India. 

More than a dozen electric cars will be launched by the top Indian manufacturers like the Hyundai India, Tata Motors, Maruti Suzuki, MG motors and Nissan in 2021 and the upcoming years. 

The luxury car manufacturers like the Volvo, Audi, Jaguar and Land Rover are also striving for launch of the electric vehicles in India in this year.

The launch of some electric cars which can be said as “under budget” has already taken place; the luxury launches are still anticipated. The most popular name which opened the innings for luxury space was the Mercedes Benz EQC SUV, pricing around 1.04 Cr.

This electric car was launched in the Indian shores at the 2020 expo and was the first one to emerge as the luxury electric car. While some are anticipating eagerly for the reviews of already launched electric vehicles in India from the experts, some of them are waiting for the launch of Tesla and Apple car.

Future Market- The future market of electric vehicles in India 2021 is already bright; anticipations are being made that it will reduce the pollution

The Indian Government has already reduced the custom duty on the machinery parts of the electric cars and vehicles by 10-30%. It is expected that the price of electric cars will be lesser than the combustion vehicles in the coming years.

The Council on Energy, Environment and Water (CEEW) studies estimates an overall investment of INR 12, 50,000 crores for developing vehicle production sites and charging ports until the next decade to achieve India’s aim of Electric vehicles. Many state governments are also coming forward to develop policies for encouragement of Electric cars in the entire country. 

Some of the launches which we can expect in the coming months can be divided into three categories. The ones which are priced from 7 Lakh to 19 Lakh and they could be afforded by the middleclass gentry of India. Then comes the electric cars with a price range of 20 lakh to 60 lakh which can be considered as mid range luxury cars but have a price lesser than high range luxury cars.

Let’s have a look at future market of electric vehicles – what all electric cars are available in India and which all are about to be launched, their price range. It will be interesting to know that which electric cars comes in your budget or the one you will be wanting to buy in 2021.

Economical upcoming electric cars pricing from 7 Lakh to 19 Lakh- This class of cars will be affordable

• Tata Nexon EV has a price range between Rs 13.99 – 16.25 Lakh
• Tata Tigor EV is priced between Rs 9.58 – 9.90 Lakh
• Mahindra E Verito is priced between Rs 9.12 – 9.46 Lakh and Mahindra eKUV100 will be priced around Rs.8.25 Lakh

Mid range luxury cars which have price range between 20-60 Lakh

• MG ZS EV has a price range between Rs 20.88 – 23.58 Lakh
• Hyundai Kona Electric car which is the most anticipated car by the Indians is priced between Rs 23.75 – 23.94 Lakh and is expected to be launched by Feb 2021

High range luxury cars by the luxury cars manufacturers:

• Porsche Taycan with an expected Price of Rs 1.08 Cr. is expected to launch on Feb 15, 2021.
• E-tron from Audi with an expected price of 1.50 Cr is expected to launch on Feb 20, 2021.
• The Tesla model-3 with a price range of 60.00 lakh is expected to hit the market by mid of March 2021.

Problems encountered by the Indian automobile industry while launching the EVs

Just like everything seems so fancy from outside, the inside reality of the electric vehicle in India launches is not the same. The main reason because of which the industry saw a considerable distraction was the pandemic of 2020.

Most of the car manufactures who were planning to launch their debut Electric vehicle in India could not succeed due to the outbreak of the pandemic. They had to hold or delay the launch of their models.

However now the situation is a bit different and there is a rise in the businesses after covid-19 situation. There is a possibility of problem for the buyers also in financing the electric vehicle in India due to the high rate of interest which is around 20-22% as compared to the combustion vehicles which is only 10-12%

Tesla Model-3 – The hottest trending topic in India

Few reviews from expert’s are out about the already launched electric vehicles in Indian automobile industry, some of them are waiting for the launch of electric car Tesla. There were lot of talks about the joint venture between Tesla and an Indian car manufacture like Tata motors but nothing official has been confirmed from the companies.

According to the reports Tesla has been offered land by the Karnataka government in Tumkur, a place located in the suburbs of Bengaluru city. Tesla will be setting up its manufacturing unit here and will be launching Model-3 electric cars very soon. Pre bookings will also start very soon.