The electric vehicle market in India is witnessing unprecedented growth, with 152,610 units sold in November. With petrol and diesel prices not coming down anytime soon and owing to climate concerns, EV popularity is rising.
The low maintenance cost of electric cars also attracts buyers.
However, if you want to join the electric car bandwagon, you must be aware of the costs attached. The biggest cost attached with electric cars is the cost of their batteries.
Fortunately, battery prices are falling sharply. According to BloombergNEF's annual survey of lithium-ion battery prices, average pack prices fell to USD 139 per kilowatt-hour this year, down 14% from USD 161 per kilowatt-hour in 2022. Prices of key battery metals, especially lithium, have fallen significantly Since January. This is due to significant growth in production capacity across all parts of the battery value chain, from raw materials and components to battery cells and packs. Bloomberg went on to state that prices "will fall to $133 per kilowatt-hour next year in real terms in 2023. In the longer term, and based on the same learning rate as the previous year, battery prices are expected to fall below USD 100/kWh in 2027."
Most cars come with a battery unit of between 30 and 40 kWh, which means that in 2023 you will have to pay between INR 3 lakh and INR 4.5 lakh to replace the battery of most electric cars in India. According to estimates, auto makers are charging between INR 15,000 and INR 20,000 per kWh to replace the battery.
However, most EV manufacturers in India do not disclose the replacement cost of their EVs. However, we have compiled the battery replacement cost for the best-selling electric vehicles in India, as reported by various media organisations.
Tata Nexon EV
Tata Motors has the largest pie of electric SUVs in India. It is said to have about a 76 percent share of electric SUVs and the Nexon is one of its most popular electric vehicles.
The company recently introduced a facelift version of the Nexon EV whose price starts at INR 14.74 lakh and goes up to INR 19.94 lakh. Tata offers a standard warranty of three years or 1.25 lakh km (whichever is earlier) with the Nexon EV. The new Nexon EV comes with two battery pack options: a 40.5 kWh battery and a 30 kWh battery. The former is equipped with a Long Range version with a driving range of up to 465 km. On the other hand, a smaller battery pack is included in the mid-range versions with a range of up to 325 km on a single charge.
At USD 133/kWh rate, a new Nexon EV battery should cost between INR 3.33 lakh and INR 4.43 lakh. However, Tata has not revealed the cost of its battery. The Nexon EV battery is reportedly priced at INR 7 lakh.
Tata Tiago EV: The Tiago EV comes in different variants and is priced between INR 8.69 lakh to INR 12.03 lakh, both ex-showroom. According to reports, you may have to shell out as much as INR 4.1 lakh to INR 5.1 lakh plus labor charges of around INR 10,000 to replace the battery of an out of warranty Tiago EV.
Tata Tigor EV: Tata Motors' Tigor EV starts at INR 12.49 lakh and goes up to INR 13.75 lakh, both ex-showroom. Tata Motors is said to be charging between INR 4.42 lakh and INR 6.5 lakh to replace the battery of Tigo EV.
MG Comet EV: This EV made its debut earlier this year. The MG Coment EV is a compact car with a boxy design. It has a 17.3 kWh lithium-ion battery that claims to offer a range of up to 230 km. According to unverified reports, you may have to pay between INR 3.10 lakh and INR 3.7 lakh to replace its battery.
MG ZS EV: According to a report by E-vehicleinfo.com, buyers of MG's ZS EV may have to pay between INR 6.62 lakh and INR 8.50 lakh to replace their car's battery, which compared to Tata's vehicles, seems much affordable considering that ZS EV costs more that RS 22 lakh.
Mahindra XUV400: Mahindra recently is offering as much as INR 3.5 lakh discounts on its XUV400 EV which comes in a 34.5kWh and a 39.4kWh battery variants.
The approximate battery replacement cost for the XUV400 is said to be around INR 5 lakh.
Hyundai Kona: According to the Autonexa team, replacing a 40 kWh Hyundai Kona battery could cost you up to INR 11.9 lakh.
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