The Indian government
has been promoting
cleaner vehicles for
one of the world’s
most-polluted
countries.
In February 2019,
Prime Minister
Narendra Modi’s
administration
committed to
spending
$1.4 billion
on EV subsidies,
charging
infrastructure
and publicity.
Hyundai Motor Co.
launched India’s
first electric SUV
this summer --
but only 130 Kona
SUVs were sold
to dealers through
August 2019.
Here's why:
The Hyundai Kona
electric vehicle (EV)
sells for about $35,000.
The best-selling
gas guzzler
costs $4,000.
The average
Indian earns
$2,000 a year.
Only 8,000 EVs
have been sold
in the past
six years.
There’s also a
lack of charging
infrastructure.
Banks are reluctant
to finance purchases.
Government departments
have been unwilling
to use EVs as directed.
“The affordability of
electric cars in India
is just not there,”
said R.C. Bhargava,
chairman of
Maruti Suzuki
India Ltd.,
maker of the
sales leader Alto.
“I don’t think the government
or the car companies expect
that in the next two to three
years there will be any
real buying of electric vehicles."