Most Indian customers could consider buying EV by 2022: Study

Most consumers in India would consider buying an electric vehicle by 2022, but most of them also believe that it won’t be until 2025 that the majority of new cars purchased are electric, according to a study by lubricants major Castrol.

The study found that on an average for consumers in India, a price point of Rs 23 lakh (or USD 31,000), a charge time of 35 minutes and a range of 401 kilometers from a single charge represent the ‘tipping points’ to achieve mainstream EV adoption.

Consumers in India are seeking a lower price point for EVs than consumers in other countries, with the global average tipping price point for EVs being at USD 36,000 (around Rs 27 lakh), it said.