EV Two-Wheeler Price Cut: There’s some good news for people who are planning to buy an EV two-wheeler. Most EV two-wheeler manufacturers have cut the prices of their offerings in India. These companies have reduced the prices of their EV two-wheelers by 20-22 per cent. Indian EV makers are planning to reduce the high upfront cost of electric vehicles with this initiative. Now customers can buy some of their favourite EV scooters paying a lesser price than before.
Lithium-ion Battery Prices Go Down
The primary catalyst behind this price correction is the concerted effort to boost sales in the burgeoning electric vehicle market. A key contributor to the overall cost of an electric two-wheeler is the battery, accounting for over 40% of the total expense. In a remarkable trend, the cost of batteries has witnessed a substantial drop of 40 to 50% over the last four to five months, prompting manufacturers to pass on the benefits to consumers in the form of reduced prices.
One of the driving forces behind this downward trajectory in battery costs is the rapid technological advancements and increased production scale in the electric mobility sector. As manufacturers capitalize on economies of scale and innovation, the price barrier that has deterred many potential buyers from embracing electric two-wheelers is being dismantled.
Lithium-ion Battery Alternative in Works
Moreover, the landscape of electric vehicle technology is evolving swiftly, and alternatives to traditional Lithium-Ion batteries are emerging. Researchers and engineers are working on developing new battery technologies that could further contribute to reducing the cost of electric two-wheelers. This diversification not only ensures a more sustainable future for electric mobility but also holds the promise of bringing down the price points even further.
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