How Electric Vehicles Can be More Cheaper In Future?
Due to a number of factors that include innovation, the price of electric vehicles today is significantly higher than the price of conventional internal combustion engine automobiles. Today, we'll talk about several potential approaches to EV cost reduction.
We must first comprehend why electric vehicles are so expensive. The key factor is the battery pack is the key element that affects the price. Manufacturers add battery packs with larger kWh ratings to provide longer range (Kms/full charge), but each additional kWh power comes at a hefty expense thus causing?
Firstly need to create a charging infrastructure for EV vehicles in our country:?
By creating a reliable charging system, the issue of batteries' limitations on driving range can be resolved.Fast-charging locations at predetermined intervals and battery changing locations fall under this category.In this manner, the cost can be decreased by reducing the overall battery power.Additionally, the vehicle's overall weight may be reduced as a result, which would increase its energy efficiency.The deployment of charging infrastructure can be provided in each city. Although the priority given to the cities contributing a higher number of electric vehicles.
Increase the general efficiency of vehicles:
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The government might offer incentives to automakers who strive to increase vehicle efficiency, hence lowering energy usage.This translates to a car that can cover more miles on a single kWh of energy, allowing the battery to be smaller while still providing a sufficient range.By adopting more energy-efficient electric motors, better tyres, boosting the aerodynamics of the cars, and reducing their weight, general efficiency can be increased.
Give EVs a fiscal support:?
The government currently offers tax breaks and a reduced GST to businesses who produce EVs,E-Cargos, E-mobility vehicles? or their spare parts. This will promote the early adoption of EVs by both consumers and producers. Government agencies may also experiment with tradable auto emission credits or coupons depending on the CO2 emissions of individual automobiles.
As a result of their zero emissions and ability to be cheaper, EVs will benefit, whereas ICE vehicles will become more expensive as a result of their CO2 emissions.
Conclusion:?
Compared to ICE vehicles, EVs are now relatively highly priced and are in their nascent stage. The price of electric vehicles will, however, undoubtedly decline in the near future due to improvements in EV technology and also keeping in mind the above reasons.?