Carmakers Can’t Turn Out EVs Cheap Enough to Convert Indians
- EV pricing below 1 million rupees difficult: Mahindra’s Goenka
- Customers wary of price, lack of charging, changing technology
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More so than anywhere else, automakers are chasing the holy grail of electric mobility in India: a lower price.
Mahindra & Mahindra Ltd.’s launch of its e-KUV at a price of 825,000 rupees ($11, 587), compared to its next cleanest option -- a mid-range petrol variant at 650,000 rupees -- highlights the challenge of pricing electric cars that can entice buyers. A global model such as Hyundai Motor India Ltd.’s Kona electric SUV starts at 2.5 million rupees and has sold just about 300 units in seven months since its launch.