Sign In

Reasons Why Electric Cars Are Expensive

​The automobile industry today is revolutionising itself and is avidly looking for cleaner and safer sources of the energy. This simply means that there would be changed emission norms and while there has been a lot of change in the emissions standard but it is constantly changing. The main alternative for the traditional vehicle is the electric cars which run on EV. India's EV industry is still shaping as there is lesser number of options available. One of the common problems which the industry is facing is the higher cost of the technology and thus the higher cost of the vehicle which restricts its reach to fewer people.

However, the understanding of why these cars are costly and how like other technological changes the prices will decrease. We still remember the first phone which almost looked unaffordable or the first computer. Every new technology is expensive at first due to restricted technology costly medium but slowly the cost will decrease as the technological revolution is brought.

Get a motor insurance policy for your vehicle which will make sure that you are financially covered at all times. ​

Why the additional cost?

The additional cost that majorly comes is from the battery. The battery alone can make a difference of lakhs. It has to be rechargeable should be sufficient to support a car for running for a long time and other parts also have to be designed in a similar way to work accordingly. Now the exterior of the car has also to be designed in a way that it can support the working of electric car and also should look different from a normal car. All of these features when added make a lot of difference between a normal car and an electric car. Now when someone is looking to get a new car choosing the electric one which is still evolving and is a very costly option would be difficult consideration.

A part goes to the development cost. The cars have been developed from a very long time and billions of dollars have gone into its development. Now all of this development cost has to be maintained and spreading this development cost makes the car costly. The second part is the raw material which goes into the production of this kind of car. Now the raw material changes and with the new requirement, not all the material are available. The first part of the development process is to just make an electric car which runs after this you will go on to decreasing the cost of raw material by trying the product which could replace it with the cheaper mediums.

Now the last stage is the supply chain. These are constrained in terms of battery raw materials and manufacturing capacity. Thus, as the technology would grow a greater number of companies will invest in the same idea will make the visibility of these cheaper. Buy car insurance online and get your car secured from any kind of damage which may occur to it on the road.​