The Indian Govt Will Lease Out Luxury EVs to Ola, Uber, and Blu Smart

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The Indian government is pushing the Indian automakers towards producing more EVs annually by implementing a new CAFE (the Corporate Average Fuel Economy). Consequently, Energy Efficiency Services Ltd (EESL) has set its goal to obtain 200 luxury EVs that will be leased out to ride-hailing services like Ola, Uber and Blu Smart. The tender notice to procure electric cars will start at Rs. 25 lakh.

The EESL wants the tender to materialize as early as 2020 in order to reach its goal. Hyundai’s Kona is equipped with a 39.2 kWh lithium-ion battery pack and goes a long way on a single charge, up to 400 km to be precise at the top speed of 167 km/hr.

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However, initially priced at INR 25.3 Lakh, then later reduced down to INR 23.71 Lakh, is still expensive for the average Indian consumer. An average Indian’s per capita income amounts to approx INR 1.4 Lakh. Thus it would be somewhat difficult for them to own an EV whose price goes as up as INR 23.71 Lakh. Taking the per capita income into account, a report published by Bloomberg shows that Hyundai will be able to sell only up to 130 cars in August 2019. 

The majority of the EVs available on the behalf of the government live up to neither the expectation nor the satisfaction of the consumers, and it looks like if EESL wants to go forward with their goals, they need to acquire quality EVs. This is where the expensive Kona comes in.

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Keeping in mind the cost-effectiveness, EESL had placed the order to procure 10K EVs from Tata and M&M in September 2007. The number of vehicles supplied by both the companies amounts to roughly 500 Tigors and 1000 e-Veritos.

However, the reviews for these electric cars had not been pleasant. Now that EESL is eyeing Kona, the final order to Tata and M&M for EVs will be around 3,000 cars by March 2020.

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