Planning to buy an EV? Here’s what you need to know about insurance, maintenance and more

0
180


When purchasing an electric car, it’s essential to consider several key specifications to make an informed choice. Firstly, you must decide on the type of electric vehicle you want, such as fully electric, hybrid electric, plug-in hybrid electric, or fuel cell electric. Next, the driving range on a single full charge becomes crucial, as charging infrastructure is still developing and a longer range provides more flexibility. Battery type (typically Lithium-Ion) and capacity impact driving range significantly, with higher-capacity batteries offering better range.

Charging specifications matter too, with options like standard and fast charging available. Fast charging is quicker but may require expensive infrastructure. Electric vehicles are known for their quick acceleration due to instant torque, influenced by the number and power of electric motors. Power and torque figures measured in horsepower and the warranty on the battery pack should also be considered. Lastly, energy consumption determines the efficiency and running cost of an electric vehicle, which are typically lower than conventional cars.

Is it difficult to maintain an EV?  

Electric vehicle (EV) maintenance primarily focuses on the battery pack, electric motor, and several other components like brakes, tires, suspension, and steering.

EV battery packs are robust but require proper care. Avoid letting the battery run out of charge completely, extreme temperature exposure, and storing a full charge for extended periods.

Proper tire maintenance is essential to maintaining low rolling resistance, which reduces strain on the battery. Follow manufacturer instructions for tire rotation, maintain optimal tire pressure, and replace worn-out tires.

EVs often feature regenerative braking systems that extend brake life. Nevertheless, you should change brake fluid periodically and replace worn-out brake discs and pads as needed.

Coolants are used to cool EV battery packs. Regularly check for leaks and follow manufacturer recommendations for coolant flushes.

EV battery pack | Image Credit: MIT 

Unlike conventional vehicles, EVs do not require engine oil changes or spark plug replacements. However, some EVs may have oil in the reduction gearbox that may need replacement over time.

EVs typically cost less to maintain than petrol or diesel cars due to fewer moving parts. Electric motors have minimal maintenance requirements and simpler gearboxes reduce the need for transmission maintenance. Additionally, regenerative braking reduces brake wear.

Overall, EV maintenance involves periodic checkups and services recommended by manufacturers to ensure optimal performance, battery lifespan, and cost savings.

Is insurance for electric cars more expensive than petrol or diesel counterparts?

Image Credit: Bajaj Allianz

Electric car insurance premiums tend to be higher compared to traditional vehicles for several reasons. One major factor is the higher repair costs associated with electric cars, which feature advanced technology and lightweight construction. Here are some key factors contributing to the higher insurance premiums for electric vehicles (EVs):

Electric cars incorporate advanced technology, including sophisticated electrical components and battery systems. Repairing or replacing these components can be more expensive than traditional internal combustion engine (ICE) vehicles.

They often use lightweight materials to enhance efficiency and range. While this improves performance, it can also make EVs more vulnerable to damage in accidents, leading to higher repair costs.

EVs rely on lithium-ion batteries, which are a significant portion of the vehicle’s cost. Replacing these batteries is expensive, and their long-term performance affects insurance rates. If a battery lasts longer, it reduces the frequency of replacement and lowers the insurer’s liability.

Electric cars require specialised maintenance due to their complex components. Skilled electric vehicle mechanics are relatively scarce compared to traditional mechanics, leading to higher labour costs for servicing and repairs. These higher labour costs contribute to increased insurance premiums.

Electric cars are still relatively uncommon in many regions, including India. The limited number of EVs on the road means there are fewer experienced mechanics and repair facilities, potentially increasing repair costs.

Are there enough charging stations for your EV? 

Tata Nexon EV charging | Image Credit: Tata Motors

As of January 23, 2023, there were 5,254 public electric vehicle (EV) charging stations in India, intended to serve a total of 20.65 lakh EVs. This information was disclosed in the Lok Sabha by Minister RK Singh and confirmed by the Vahan dashboard. In simpler terms, there is approximately one public charging station available for every 393 electric vehicles in the country.

In India, Karnataka leads the way with the highest number of EV charging stations, boasting 774 stations, followed by Maharashtra with 660, Delhi with 539, and Tamil Nadu with 442 stations.

However, when examining the Vahan data, it’s evident that Uttar Pradesh has the largest population of electric vehicles in the country, with 4.5 lakh registered EVs. Surprisingly, the state only has 406 public EV charging stations, resulting in approximately one charging station for every 1,103 electric vehicles.

A significant portion of Uttar Pradesh’s electric vehicles, numbering 4.06 lakh, comprise electric three-wheelers, including e-rickshaws. Additionally, the state has 43,036 electric two-wheelers, while the presence of electric cars and larger vehicles remains relatively low.

EV charging station | Image Credit: Switch Delhi

All-electric vehicle supply equipment (EVSE) or EV charging stations are designed for the specific purpose of charging electric vehicles (EVs). Despite the process being similar to plugging in any electric device, the type of EVSE can vary, with some requiring specialised installations while others can be plugged into a regular wall socket. The charging duration is also contingent on the kind of charger used.

AC chargers, classified as slow chargers, take approximately six to eight hours to fully charge an EV. The IEC-60309 charger is widely used in India, adhering to Bharat EV standards and supported by the FAME-II programme. Another common charger, the IEC-62196, or Type-II connector, is used globally and is employed for EVs like the Ather 450 E-scooter. The third type of charger features a simple three-pin connection with a 15-amp plug. These Stage 1 chargers enable electric vehicles to connect to a standard wall socket without any additional hardware or installation required, making them commonly used for home charging.

Akshay Sasikumar, CEO of 82Volt Technologies, an EV charging technology company, believes that the need of the hour is to focus on superior AC chargers.

“The present state of electric vehicle (EV) infrastructure in India is at a very nascent stage. Currently, we are witnessing a rapid proliferation of DC fast chargers lining highways and public spaces like malls, cafes, and retail hubs. Yet, the haste to embrace DC fast charging as the dominant recharging method for EV batteries is not an ideal path, as it can potentially lead to the gradual degradation of battery longevity over time,” Sasikumar said.

Level 1 electric chargers, though cost-effective, have a longer charging time. They are often used by car owners for overnight charging. Companies like Alpha EV, Charzer, and Kazam produce Level 1 electric vehicle chargers.

Level 2 chargers, used in both public and private charging stations, operate on a 240V AC plug for residential use and a 208V AC plug for commercial purposes. Proper installation by a licensed technician is crucial for Level 2 electric vehicle chargers. They can also be integrated into solar panel setups. These chargers have an hourly recharge capacity of 10 to 60 miles of range and can fully charge a car battery in under two hours, making them suitable for businesses and homeowners seeking fast charging options.

Level 3 chargers, or DC fast chargers, with CCS2 or CHAdeMO connectors, offer a significant boost to an electric car’s range in just 30 to 40 minutes. These chargers are primarily found in commercial and industrial settings due to their powerful, specialized requirements. Notably, not all electric vehicles are compatible with Level 3 chargers, and some plug-in hybrid EVs lack this charging capability.

Is it practical to buy an EV in India?

Mahindra XUV 400 | Image Credit: Mahindra 

According to Sameer Aggarwal, Founder and CEO of Revfin Services, the growing EV landscape is making EV adoption more practical than ever.

“India’s electric vehicle landscape is evolving rapidly, with an expanding charging infrastructure that’s making EV adoption more practical than ever. Today, consumers have access to a growing network of charging stations, providing convenience and peace of mind. Insurance options are aligning with EV needs, and government incentives are boosting affordability. While challenges remain, the practicality of EVs in India is on the rise. At Revfin, we are committed to driving this transformation forward, ensuring every Indian can embrace the sustainable and cost-effective benefits of electric mobility. The future of EVs in India is electrifying, and we are here to power it,” he said. 

The government’s initiatives to boost EV adoption, such as FAME and production-linked incentive (PLI) schemes, will enable the transition to EVs.

“One of the main challenges to the adoption of EVs in India is the lack of adequate charging infrastructure. The government, for its part, has been promoting infrastructure development and EV adoption through policies like FAME and production-linked incentive (PLI) schemes. Such collaborative initiatives are promoting the indigenous EV sector and aiding India’s transition to a more sustainable and environmentally friendly transportation system,” said Ketan Mehta, Founder & CEO, HOP Electric Mobility.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here