Electric vehicles (EVs) are being hailed as the future of mobility, with the government actively promoting them, including electric cars and two-wheelers. The number of EV buyers in India has significantly increased over the past few years. However, a recent survey reveals that more than half of EV owners are unhappy with their decision and are now considering returning to internal combustion engine (ICE) vehicles powered by diesel, petrol, or CNG. The survey included 500 EV owners from Delhi, NCR, Mumbai, and Bengaluru.
Conducted by Park Plus, the survey found that 51% of respondents regretted their decision to buy an EV. Various issues, such as insufficient charging stations, maintenance difficulties, and low resale value, have led these owners to conclude that purchasing an electric vehicle was not a wise investment.
The Biggest Problem: Charging
According to the survey, 88% of EV owners cited finding accessible, safe, and functional charging stations as their primary concern. Despite there being over 20,000 EV charging stations across India, many owners found these stations to be poorly marked and difficult to locate. Consequently, EV owners preferred short urban trips of less than 50 kilometers.
Maintenance Challenges
The survey revealed that 73% of EV owners found their vehicles to be akin to a “black box,” which they could not understand. Maintenance posed a significant problem as local mechanics could not resolve minor issues, necessitating visits to authorized dealers. Additionally, there was a lack of transparency regarding repair costs.
Low Resale Value
The resale value of EVs is significantly lower than that of traditional vehicles. There is no logical method for determining the resale value of an EV. As a result, selling an EV often yields a minimal return. In contrast, the resale value of diesel, petrol, or CNG vehicles can be more accurately assessed based on the vehicle’s condition and mileage.
