Cost and frequency of battery replacement a major barrier to buying an EV: report

Electric vehicles are the flavour of the season but there are many barriers to mass adoption of the relatively eco-friendly alternatives to fuel guzzling cars and two-wheelers. One of the major barriers is the cost and frequency of battery replacement, shows a joint study by ACKO and YouGov. 

About 40% of the four-wheeler EV prospective buyers respondents listed cost of each battery replacement as an apprehension as battery contributes to a substantial part of an EV. This was an apprehension to 37% two-wheeler EV intenders. Currently, the cost of replacing an electric car’s battery is ₹15,000-20,000 per Kwh (a mid-range car’s battery is 30-40 Kwh). For an electric scooter, this cost stands at about ₹30,000 currently. 

Apart from cost, frequency of replacement was also a concern for 36% and 38% of four-wheeler intenders and two-wheelers intenders, respectively, as per the report.

However, the top barrier for prospective four-wheeler buyers is the lack of charging provisions at home and the building with 42% choosing it as an apprehension. “The time taken for a full charge emerges as the biggest concern for EVs, with 25% of consumers listing the same as the biggest barrier to their EV purchase,” the report said. Affordable charging equipment for personal/residential charging and easy installation of charging solutions are other concerns ailing EV adoption.

Fire hazards relating to EV scooters is a top concern for two-wheeler intenders. 

“Overall the lack of charging provisions and safety concerns due to catching fire are common apprehensions among intenders of both 4/2-wheeler EVs,” the report said. 

Lack of charging infrastructure is a concern for EV owners as well, the report shows. “time taken to fully charge their vehicles and the lack of charging provisions in residential complexes have emerged as concerns for EV owners among 41% and 40%, respectively,” the report said. 

The numbers to different responses will not add to 100% as respondents selected multiple answers.