EV market share to reach 10% by 2025

Jaipur, April 22, 2024.

The market of electric cars in the country will change completely in two years, because the prices of both battery and chip have started falling. The cost of one kilowatt power (kWh) battery was $130 (₹10,850) in 2021, which has come down to $100 (₹8,350) in 2023.

Currently, there are EVs in the market with batteries ranging from 17 to 108 kWh. 70% of the cost of an EV is the battery. According to this, the price of EV worth Rs 10 lakh will be Rs 8.60 lakh. Second, manufacturing of semiconductor chips in the country will further reduce the cost by 10%. In this case the price will be around Rs 7 lakh.