In recent years, there is a paradigm shift in automobile industry towards eco-friendly electric vehicle that generates a reduced quantity of toxic effects to the atmosphere than internal combustion engine vehicles. India has been one of the front-runners in adopting EVs among the countries worldwide. Tesla’s EVs are all set to get extensive adoption in Indian market. The automobile manufacturers in India have also launched vehicles for the adoption of hybrid and EVs. By 2030, India is all set to be one of the biggest producer and consumer of EVs
The extensive adoption of EVs is necessary to reduce pollutions at major cities and the escalating trade in crude oil. To enhance the transformation of electric vehicle in India, the gap between Electric Vehicle and ICE is to be addressed. The cost, charging station infrastructure, customer demand, subsidised uniform tariff of electricity of electric vehicle are the main challenges faced by the Indian EV manufacturing market.
To meet the increasing adoption of EVs, our country needs a common charging station. In add-on, the unavailability of space to establish charing station is yet another major challenge. Also, the shortage of affordable renewable energy is setting a burden on the fossil fuel-based electricity grid. Prospective EV consumers are concerned when it goes to the EV distance range and battery operation. Therefore,it is imperative to address issues related to charging station infrastructure and battery swapping stations.
The financing challenges such as constrained financing options, excessive interest, high-level insurance cost, and reduced loan opportunities can delay EVs extensive adaption in India. To promote the widespread evolution of the EV industry for resolving these disputes and on vehicle standardisation, the government should introduce stronger policies. The median cost of electric cars in India is about INR 13 Lakh, considerably greater than the standard INR 5 Lakh for cost-effective cars operated on fossil fuel. A huge problem in electric vehicles is charging time. Consumers are impatient waiting for longer duration to charge their vehicles. Also, Vehicle servicing is another problem and the exact servicing costs are still undetermined for these categories of vehicles.
Most of the electric vehicles use lead acid or nickel metal hydride batteries. For better durability, to enhance the conservation of energy and 5% self-discharge rate per month, advanced battery-operated electric vehicles use lithium-ion batteries with improved efficiency. But these EVs can face the occurrence of thermal runaway which leads fires or explosions in EV, even though strategies a have been prepared to enhance the safety of these batteries.