I read an article ( can't get the link, it's paid subscription ) that Indians want to move to EV but right now most of the cars are too expensive and lack of infrastructure is enraging them . Right now the electric bikes are in trend ( but they are expensive too compared to petrol bikes ) since they are used for short distance travel and can be charged at home .
If these two are fixed ( cost and infrastructure ) they will happily shift to Electric vehicles .
Tesla is expensive right ?
Posted Using LeoFinance Beta
Yes EV right now is more expensive. In the US, one of the reasons why people are buying it is due to the credits you get back from the government. Otherwise, I highly believe people would buy gas cars because its cheaper.
More expensive than average. There are plans to lower the cost of production and later the price of the car. But I think it will take a while.
Posted Using LeoFinance Beta
What do you mean by this ? I am not aware of credits .
Here most of the people who told they would shift to EV are worried about air pollution ( most of the highly polluted cities are in India ) .
Posted Using LeoFinance Beta
It means you get paid back a portion of your purchase. In California, you pay in full first, then you submit applications to the government. They then pay back somewhere between 25%-50% of the cost. Without this, I don't think many people would buy EV vehicles given their cost.
Posted Using LeoFinance Beta
Oh okay got it , here it is called subsidy , only a few states in India are providing that for EV .
Here it works in a different way , the companies must claim it from the government and they sell the car to customer at discounted price itself .
Posted Using LeoFinance Beta
That is what it is, a subsidy to incentivize people to buy EVs.
There is both the state (some) and federal credit that people can use. California has an aggressive credit, probably the strongest in the country. I think, unless they changed it, the federal subsidy ran out when the manufacturer sold half a million EVs. Thus Tesla and GM dont qualify.
That might have been changed.
Posted Using LeoFinance Beta
Interesting . Here the central government has stepped in recently and hence they might start providing subsidies too and they have started building infrastructure now which is a good thing.
Posted Using LeoFinance Beta
Many dont feel that the EV industry should be subsidized. That it is just government trying to determine winners and losers.
Thus it gets to be a heated battle.
Posted Using LeoFinance Beta
The prices are going to come down. It will follow the path of technology. It is a rather common trend.
Presently, the big barrier is batteries. They are still costly as compared to the whole.
If they can break that price wall in the next year or two, we could see the prices drop a ton.
Posted Using LeoFinance Beta
Yeah that is true here to reduce the price of petrol and Diesel they are using ethanol which seems to not only decrease the price but also the pollution and also incentivise farmers because it is extracted from sugarcane . So yeah technology eventually overcomes all the problems .
Posted Using LeoFinance Beta
They did away with Ethanol here a number of years ago. It dawned on someone that it was just as environmentally unfriendly to have biofuels as well as economically. They ended up with a food shortage.
Posted Using LeoFinance Beta
The food shortage part came up here too because in order to get the required amount of Ethanol the area of harvesting sugarcane must be expanded 10x more here which will decrease other crops area but seems like the government is going ahead with it .
Posted Using LeoFinance Beta