Bharat Mobility Global Expo 2025: When customers go to buy a car, electric vehicles (EVs) should also appear to be a competitive option equal to gas-oil engines, for this the price difference between the two will have to be reduced from the current 30 to 50 percent to 20 to 25 percent, so that The EV market will potentially grow seven to nine times by the end of this decade. Hardeep Singh Brar, Senior Vice President and Head of Sales and Marketing, Kia India, has given this information.
According to FADA, about 99,165 electric cars were sold in India during the year 2024 and it registered an increase of 20 percent on an annual basis. “We are going to launch two EVs within the next one year,” Brar told Business Standard during a conversation at the Bharat Mobility Global Expo. The first EV will arrive in the second half of the year and the second in the first half of next year.
He said, ‘We estimate that by the year 2030 the automobile industry will register annual sales between 55 lakh to 60 lakh vehicles. We estimate that EV penetration in that market will be 15 percent, which is approximately 7,00,000 to 9,00,000 vehicles sold annually. He said achieving a significant reduction in the price gap between EVs and gas-oil engine vehicles is essential to increase EV sales manifold.
He said, ‘At present, EVs are about 30 to 50 percent more expensive than gas-oil vehicles. I believe the inflection point for EVs will come when this price gap reduces to 20 to 25 percent. Only then will people start coming.
Many leading car manufacturers like Maruti Suzuki and Hyundai have unveiled their mass-market electric vehicles at the Global Expo. He said driving on highways, rather than within cities, is creating range anxiety among customers.
“We need charging infrastructure on the highways because 80 per cent of customers within the city do not use public chargers as they go to their workplace, come back at night and leave the vehicle charging,” he said. Are.’