Stellantis India's Shailesh Hazela Points Out 3 Big Challenges For EV Adoption: Times Drive Green Conclave & Awards 2024
At the Times Drive Green Conclave & Awards 2024 held on Wednesday, Shailesh Hazela, CEO & MD, Stellantis India said that electric vehicle (EV) adoption in India currently faces three big challenges, including a high acquisition cost, the underdeveloped charging infrastructure of the country and the resale value of EVs.
Times Drive Green Conclave & Awards 2024
At the inaugural Times Drive Green Conclave & Awards held on Wednesday, Shailesh Hazela, CEO & MD, Stellantis India said that electric vehicle (EV) adoption in India currently faces three big challenges. During a panel discussion between Rajeev Chauhan, Vice President - Passenger Vehicles, BYD , Satinder Singh Bajwa, Chief Business Officer, MG India and Shailesh Hazela, the latter revealed that as the country moves towards electric mobility, there are still three big issues for EVs to go mainstream.
Acquisition Cost
The challenges include the acquisition cost, which is still relatively higher for battery-powered EVs as compared to their ICE counterparts. For reference, the Citroen C3 is currently priced between Rs 6.16 lakh to Rs 10.15 lakh, whereas its electric sibling eC3's price ranges from Rs 12.76 lakh to Rs 13.41 lakh (all prices, ex-showroom).Charging Infrastructure
Another big issue pointed by Hazela was the charging infrastructure of the country. During the panel discussion, it was revealed that a majority of all electric car owners charge their vehicles at home, and that the utilisation of public chargers is at just 5%. Despite the preference of EV owners to charge their vehicle at home, range anxiety still exists and improving the charging infrastructure is one of the key aspects to increase EV adoption.Resale Value
The third biggest concern shared by the Stellantis India CEO & MD was the resale value of electric vehicles. While manufacturers are now providing a battery warranty of five to eight years on batteries, it's no secret that batteries degrade over time, resulting in a reduced range with passing years. Hence, this affects the resale value of EVs, which is a big cause of concern for Indian customers.Also see:
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