EV affordability is an issue, but the big mass-market push is on. Beyond just range and charging, often-overlooked essentials in EV choices are key to support the widespread adoption of EVs.
“The only concerns I have are the range and the battery charging time. These two aspects, and finally the price, are what I will consider when buying my first electric vehicle,” said an end consumer searching for her first electric car in India.
She likely resonated with many of us! But are these the only factors to consider when investing in an electric vehicle (EV)?
Resale value
A Maruti Vitara Brezza VXi, purchased in January 2021 and driven approximately 20,000 km, will fetch a resale value upwards of INR 8,10,000 today (sourced from leading car resale platforms). But how much would a Tata Nexon EV, with similar conditions, fetch in the second-hand market today?
The answer is unclear because while some car resale portals offer generic quotes for EVs, some have not listed EVs as an option at all!
A car’s resale value is critical as it helps you decide your initial investment and determines how much money you will have in hand five or ten years when you are in the market to buy your next car. For example, many people use the resale value of their car as the down payment for their next purchase.
Also, in cases where end consumers change cars frequently, the importance of this factor increases. Please note that even many dealers are not clear about the resale prices of an EV at this time!
Extended warranty options
Suppose you have invested in an internal combustion engine-powered vehicle during the last five years. In that case, you have also paid extra to extend the engine warranty by years or kilometres. Extended warranty packages are one of the most revenue-generating deals for vehicle brands.
However, this is completely missing from the EV offerings in the market. While most electric cars in India come with a battery warranty of over 120,000 km or eight years, none of the brands offer any ‘battery warranty extension’ deal.
It is also advisable to check how much battery replacement will cost if your battery gets damaged after the warranty period or if it is not covered under warranty due to external factors like ‘water damage.’
Many electric cars feature batteries that are almost 50% to 55% of their ex-showroom cost. For example, an EV costing about INR 2 million ex-showroom generally has installed batteries worth INR 1 to 1.2 million!
Service reach
EVs represent the latest technology, and finding a dependable service network for them is not easy. Hence, this factor should also be at the top of your list when considering an EV. An electric car without a dependable service network might cost you more in the long run than the environmental benefits it provides.
For instance, if your EV must be towed to a service centre outside your city (40 km away), it will cost you almost INR 5,000. Also, remember that almost zero aftermarket mechanics are available for servicing or handling EVs in case of breakdowns.
As the sales of electric cars in India are still not what was envisioned, the availability of spare parts might also pose a challenge. Reports have also suggested that EVs need better tires than ICE vehicles. Ensuring that the service availability for the EV you choose will not be a challenge, resulting in a bitter experience, is essential.
Range, charge time and convenience
The best way to determine how much range per charge you need from an electric vehicle, if it will be your primary vehicle, is to consider your daily travel distance. Charging an electric vehicle every day is not advisable, so the range offered should cover at least three days of your travel.
For example, if your daily commute is about 50 km, this electric vehicle’s ideal range is 200 km. Remember that not charging an electric vehicle over 80% and not letting its battery drain below 20% is the best way to ensure the health of the batteries.
The time it takes to fully recharge this electric vehicle’s batteries using a home charger is something you should also consider because you will likely be charging your EV at home most of the time. It is also advised to consider the reach of the brand’s charging network. While there are many Charge Point Operators in India, many of the fast chargers they deploy are in poor condition.
While such charge points may appear on apps, their usability can only be confirmed upon arrival. However, if an EV brand lists charge points, they are more likely to be usable!
