Hyundai Motor Co. has launched the first electric SUV in India which urged the millennials to start driving the future vehicles. Despite being a good step and commercial from Hyundai Motor to overcome the pollution issue it still finds it hard to sell the car.
India has more than 150 million drivers but only 130 Kona SUVs were purchase in complete August. It might discourage other motor companies in investing in electric cars. Even though the government is supporting this initiative but it still does not have a good response from the government.
The price of Kona in India is about $35,000 and an Indian earns about $2,000 per year. The gas guzzler cost about $4,000 but it is still not popular in India and the reasons behind it are still unknown. It might be due to the charging problems or finance from banks to buy an electric vehicle. The government department is not willing to take a chance of using Electric vehicles.
In the past six years, only 8,000 electric vehicles were sold which shows the condition of electric vehicles in the Indian market. While in Chine the number of electrical vehicles sold every day is double the number
The price of electric vehicles in India is just not at the right affordable rate which is an important factor in the data. Not only the companies but the government are also not expecting these numbers to be changed so suddenly.
Even though the government has launched various initiatives to start cleaner vehicles as India was listed amongst the most polluted countries in the world. The Indian government under the decision from Prime Minister Narendra Modi took a decision of spending $1.4 billion in the auto market sector.