Electric vehicles seem to be the portal to the future. It is because EV technology has a crucial role to play in curbing the effects of the environmental problems that are spreading their tentacles on a global scale. However, people seem to be standing at crossroads when it comes to EVs. Despite being environment-friendly and low maintenance, EVs seem to fall short of swaying a substantial chunk of the population.
Initially, the concerns regarding the technology were about the travelling distance not being similar to that of a petrol or a diesel vehicle. But companies have worked ardently to overcome the issue and are now running neck and neck with their fossil fuel counterparts. So, then, why are there not many EVs on the road? What are the reasons for the slow adoption of these future-proof vehicles?
We could think of the following reasons why that is the case.
Cost is one of the primary reasons behind the masses not getting attracted to electric cars. The cost of acquisition, running, and maintaining a battery-powered vehicle makes up the total cost of ownership which can be heavy on Indian pockets. Indians are all about the economy. Therefore, people are resistant to buying an expensive EV even though the maintenance and the running cost are comparatively lower than conventional fuel vehicles.
‘Can’t Find a Charging Station!’
Despite the low running cost, EVs are not preferred by buyers since there is an acute inadequacy of charging stations. It’s not just India where this situation is prevalent. In countries where the adaptation is comparatively higher, areas lack the presence of power stations for EVs. According to IEA global reports, the entire continent of Europe had only 38,000 power stations, and the US had only 17,000 charging stations in 2020.
Not Chipping in Enough Chips
Due to the onset of the pandemic, the world is going through a shortage of microchips and semiconductors. Korea and China used to be the leading producer of chips, which is the brain of all electrical equipment. However, many chip manufacturing firms shut due to COVID-19, and many countries withdrew their contract with China, resulting in a major paradigm shift in the industry. This is one of the reasons why EVs are more expensive in present times.
CNG Equally Cooler?
This might not be a factor for the less popularity of EVs in other countries, but it sure is a significant factor in India. Compressed Natural Gas is giving a tough fight to the EV market. Although it is not as environmentally friendly as EVs, it is equally cost-effective, and people are inclining towards CNG. As a result, mainstream car manufacturers have started to roll out company-fitted CNG cars.