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Vishnu
Entrepreneur | softw... • 10m
Why EV cars sales are declining? EV markets in US and Europe also sees a drop in sales. Vehicle manufacturers like Ford which commited to be completely electric by 2030, is now shifting towards becoming complete hybrid. What is going wrong in EV sector? 1. Pricing - EV pricing is on expensive end compared to normal fuel based vehicles Example: Tata Nexon base model on-road costs around 8.97L where as it's EV is at 15.84L (source: CarDekho Bangalore) 2. Infrastructure issues - yes ofcourse EV infrastructure is growing, but there is a shortage of fast charging stations and it's maintenance. In some countries, some charging stations are not maintained properly which resulted it making useless for charging. 3. Car resale value - This is one of the major concern among the EV buyers. EV vehicles doesn't have resale value in used car market. It may be due to battery life cycle which comes with extra running cost. 4. Running cost - Battery replacement costs typically 40% of car value.
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