Electric cars are the next big thing in the world. If you have been wanting to get a car that is eco-friendly, efficient, and powerful, you should most certainly go for an electric car. Currently, in India, there are a few automobiles that run on electricity. There are many more cars that will soon be launched by the year 2020. You can choose from any of them to have a smooth and environment-friendly driving time. When you use an electric car for all your commuting and travelling needs, you make a great contribution to preserving the environment effectively.
The government of India intends to make sure that only electric automobiles are sold in India by the year 2030. In order to achieve this plan, all automobile companies will need to make a lot of changes and bring in new measures for ensuring that only electric cars are driven on the roads of the country.
An electric car run on an electric motor and not on a petrol or diesel engine like other cars. In an electric automobile, the electric motor obtains energy from a controller and this administers the power that is used for driving the car. This will be determined according to the accelerator pedal utilised by the driver of the automobile.
In an electric vehicle, the energy is deposited and stockpiled in the rechargeable batteries that are located inside the car. These batteries need to be recharged on a regular basis by ordinary electricity in a household. When a normal automobile or a hybrid car is used, it utilises fuel such as petrol or diesel for the engine. Along with the fuel, it makes use of a motor and a battery that help in enhancing the performance and efficiency of the automobile. On the other hand, an electric vehicle uses only electricity for running the whole show.
When cars run exclusively on electricity, there are a number of benefits and they include:
You can take a look at the specific features and benefits of some of the best electric automobiles that are sold in India and then take your pick!
This electric vehicle has been quite popular on Indian roads for some time. With a displacement of 300 cc and an engine type of 72V 3-Phase AC Induction Motor, it offers a good mileage of 110.00 kmpl. It comes with 2 cylinders and a front-wheel drive (FWD) train. It has an automatic transmission system with an electro-hydraulic power steering system. The front suspension of this car is a Macpherson Type with wishbone link and the rear suspension is an H-section torsion beam with a programmed deflection coil spring. This car has alloy wheels and a tubeless tyre system. This vehicle has a ground clearance of 172mm and a boot space of 510 L. You can enjoy a seating capacity of 5 in this environment-friendly car! You will get a digital immobiliser and an engine immobiliser with this automobile. You can also enjoy advanced features such as a remote lock and keyless entry and a central locking system with this car. This car comes with eco or boost-drive modes. The bumpers of this car will have the colour of the car’s body. The price for this car starts at Rs.10.39 lakh and your EMIs for this automobile will start at Rs.19,547.
This electric vehicle has 2 variants and they include electric engine - 25 BHP and an electric engine - 40 BHP. The engine type of this vehicle is 3-Phase, 600 Amp, and AC induction motor. The maximum speed of this vehicle is 80. It is an automatically driven vehicle and it has a rear-wheel drive (RWD) train. The clutch type of this vehicle is automatic. It has a seating capacity of 4 and a boot space of 135 L. It has a ground clearance of 170mm with tubeless tyres and alloy wheels. The on-road price for this eco-friendly vehicle starts at Rs.5.94 lakh. If you apply for an auto loan to buy this vehicle, your EMI will start at Rs.11,541 per month. It has a displacement of 210 cc. It comes with security features such as power door lock, central locking system, engine immobiliser, and a power door lock. You can also enjoy an adjustable power steering system with this car. The mileage of this car is 110.00 kmpl.
Apart from the 2 electric vehicles that are already popular in the country, there are a whole lot of electric vehicles that are soon going to be launched in India. You will most probably see the following electric vehicles in Indian markets very soon:
Along with these cars that are yet to be released in India, Maruti and Renault are planning to manufacture a few electric cars in their factories in India.
If you are short of funds due to other expenses and want to badly purchase an electric car, you can apply for an affordable car loan online. You can compare auto loans on financial web portals or the official websites of banks and NBFCs and select one according to your preference and financial condition. You will need to have a good credit score while applying for a car loan.
Yes, there are banks that offer special car loans exclusively for the purchase of electric cars. Currently, State Bank of India offers a Green Car Loan specifically for this purpose. There is a concession of 20 basis points on the interest rate for this loan. Up to 90% of the cost of the vehicle is provided for as a loan through SBI. Another bank that offers car loans for electric vehicles is Axis Bank, which offers up to 85% of the on-road price of the car as a loan.
Yes, in a bid to encourage more people to buy electric vehicles, the Government of India has announced exclusive tax benefits for the purchase of such cars. You will get an additional income tax deduction of up to Rs.1.5 lakh on the interest paid on car loans for buying electric vehicles. This comes under a new section of the Income Tax Act which is 80EEB.
The government has actually proposed to drop the registration fee entirely on electric vehicles. The government also reduced the GST on electric vehicles to 5% from 12% whereas conventional vehicles are levied 28% GST.
The government has plans to set up more than 2600 charging stations across the country at a cost of Rs.500 crore. This will be set up in more than 60 cities currently. This is under the second phase of the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME) scheme. Once this network has been established, there should be no problem in finding a charging station in your city when you are out on a drive, although it is advisable to charge your vehicle fully at home before setting out on a drive or long trip.
The eligibility criteria for getting approved for a car loan to buy an electric car is the same as to buy a conventional car. The same documents required to proof your age, income, identification, address, etc., is what is required, although these criteria and documents can vary from bank to bank.
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