Though many have already written the Obituary of the EV era. Come 2025 and things are looking exciting in this space. I would like to bring your attention to these facts which are actually pointing otherwise.
- All OEM’s (even the laggards) have started becoming active in the EV Space. E.g.: Bajaj, M&M, Honda, etc.
- While I was traveling on few highways in Maharashtra, I saw public charging stations almost at every 120~150 Kms.
- Recent vehicles are getting launched at higher battery ranges and quicker charging times.
- Prices of Vehicles are coming to closer parity of the ICE (internal combustion engine) competitors. E.g: Honda launched ACTIVA near 1 Lac / M&M new EV’s launched near SUVs like Creta / Seltos / XUV / Harrier.
When we scratch the surface and dig deeper. We understand that on the surface it looks calm and silent but beneath the water is flowing fast and rigorously.
It would not be prudent to assume that we might not have an EV future. EV is the Future, and if not, how will you explain the following:
- Conservative OEMs like Bajaj and Honda – who have always criticized the EV Vehicles are coming up with strong offerings. If there is no future, why are they even investing into development of the same.
So, they are seeing a consolidation kicking in and consolidation also marks pricing power.
2. You would be seeing charging stations popping out in your neighborhood / enroute. Who do you think is investing in putting up the charging stations? Would there be so many amateur businesses people? Who would invest throughout the land where we know that there is no opportunity? If they are putting their hard-earned money. They surely know better and more so when you see multiple people across the geography doing the same.
Click on the links below for more information.
India saw 9X increase in charging stations in last 2 years.
EV Charging stations – Maharashtra.
3. All recent launches whether it was M&M / TATA etc. are committing to 400~500 + Kms Range on a full charge and this is a significant range. Almost all major cars in India have tanks that could just do the same. So, the Range Anxiety issue one parameter is taken care of the Range. The second is ease of availability and time to recharge in comparison with fossil fuel. For this point 2 is already in process. To add to this OEMs are also coming up with innovative solutions like Battery Swapping and Fast Charging. M&M has claimed that their new vehicles can be charged from 20~80% in less than 20 Mins with a 140W charger. So, I see that its not far off. This range anxiety issue will also be the devil in the past.
4. Another hurdle we all thought was higher prices compared the conventional competitors. With the MG-JSW launching a BAAS (Battery as a Service) Model. Where you do not pay upfront for the battery but as per your usage. This will also bring battery prices going down significantly. A report from Goldman Sachs says battery prices can fall by 50% by 2026. This could just make an EV car cheaper than ICE Cars. ICE cars might fail to challenge the rise of EV adoption.
Earlier the customers had quite a limited choice. But now you have a plethora of options from Tata, New kid on the block M&M has some stunning cars, MG-JSW plan to launch 5 New cars in 2025. Maruti showcased its EVitara (Brezza based EV), Hyundai is showcased Creta in Bharat Mobility. Hyundai also planning to launch Inster (based on Exter platform). Honda has announced an EV Vehicle next year, VW – M&M JV could push VW to launch some EV Models.
25 ~26 New cars were launched or showcased in Bharat Mobility.
All in all to summarize, the times are going to be exciting in 2025~26. I would suggest do not be in a hurry to write down the EV’s just about yet. Give it some rope and we might just be amazed.
What are your views? I would love to hear from you – so just drop your comments or questions in comments box below.
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