Why now may be the best time to buy an electric vehicle

financialexpress.com:

In recent years, the shift towards sustainable living has brought the electric vehicle (EV) industry into the spotlight. India is experiencing a significant surge in EV adoption, and there are compelling reasons why now may be the ideal time to consider purchasing an electric vehicle in the country.

Electric vehicles boast minimal maintenance costs due to their simplified mechanical design compared to internal combustion vehicles. Servicing needs for EVs are notably lower than those for traditional petrol or diesel vehicles, leading to significantly reduced annual running costs for electric vehicle owners.

The government has been actively promoting EV adoption through various incentives and policies. Initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme provide subsidies for EV buyers, making these vehicles more affordable. Additionally, states like Delhi and Maharashtra offer additional benefits such as registration fee waivers and tax incentives, further reducing the overall cost of ownership.

Also Read: 10 smart tips to cut costs while buying a new car in India

One of the initial concerns with EVs was the lack of adequate charging infrastructure. However, significant strides have been made in this area. Public and private entities are rapidly expanding charging networks across major cities and highways. The availability of fast-charging stations is reducing range anxiety and making EVs a viable option for longer journeys.

While the upfront cost of purchasing an EV may still be higher than that of a traditional internal combustion engine vehicle, the total cost of ownership over the vehicle’s lifetime is significantly lower. EVs have fewer moving parts, resulting in