The I-Pace electric vehicle (EV), designed and produced by Tata Motors subsidiary Jaguar Land Rover, will retail at $147,000. This value is double the buying price of a Tesla Model 3 in the Indian market, including the import fee and taxes. The British model will have a hard time competing with other battery-powered brands and gasoline vehicles since seventy-five percent of all car sales are in the $10,000 range. Besides, its EV’s high cost is threatened by the slow transition to green vehicles in India.
According to BloombergNEF, India’s EV market is projected to grow slower than other Asian countries such as China and European countries. By 2040, only thirty-three percent of the cars sold in India will be electric. In China, the percentage of battery-powered auto sales will be seventy percent, the same range as in Germany. Despite India’s mobility’s slow electrification, Jaguar hopes that the I-Pace and its other electric brands will sell. “The Indian market is warming up to the prospects of electric vehicles. EVs are a great alternative to conventional vehicles,” said Rohit Suri, Jaguar Land Rover India President.
I-Pace was hoping to compete with Tesla for top EV markets such as America. However, due to the high costs, the breakthrough is not coming, and its auto sales barely made half of what the British carmaker expected. But according to Suri, they expect car sales to rocket as consumers become aware of the detrimental effects of pollution. Besides, the Indian administration has laid out policies to push for green vehicles, which will drive demand. Suri also noted that “EVs have a lower cost of running, are easy to maintain, create less noise pollution and have zero tail-pipe emissions.”
The absence of a good network of charging stations is also a significant hindrance to EVs’ success. Consumers have range anxiety, which has slowed down the growth of green transport. The I-Pace model can be charged at home using a charging cable. Similarly, consumers can use a 7.4 kilowatt AC charger mounted on the wall, which the Tata Power experts help install.
EV users can also use public charging stations on a use and pay basis. Tata Power and Jaguar retailers offer about 200 charging points across the country. Jaguar revealed that its retailers’ network is EV-ready, and it plans to launch six fully electric Land Rover variants before the end of the decade. By 2030, sixty percent of Land Rovers will be electric, and all other Jaguar brands will be fully-electric. “Given the high appeal and desirability of the Jaguar brand, we are confident that Jaguar I-Pace will be one of the best-selling EVs in the country,” Suri added.