Electric vehicles are here to stay. What started as an innovation in the face of climate change has caught hold of the fancy of the Indian consumer. Gradually, but steadily, people are switching over to electric cars, and auto manufacturers are aiding them in this switch with new and improved options. So, if you are thinking of buying an electric vehicle this year, here are the top options that you can explore –
Tata Nexon EV
A leading name in the electric vehicle segment, Tata Nexon EV is the most popular EV in the market currently. It offers you the most affordable price tag starting at Rs. 13.99 lakhs (ex-showroom price). Boasting the powerful Ziptron technology and magnet AC motor, the car promises a mileage of 312 km on a full charge.
Hyundai Kona Electric
With its price starting from Rs. 23.71 lakhs (ex-showroom), Hyundai’s Kona Electric is another popular model in the market. It has the Permanent Magnet Synchronous Motor (PMSM) and boasts a 100km/hr pick-up within just 10 seconds. The car can travel a distance of up to 452 km on a full charge.
MG ZS EV
A budding name in the Indian automobile sector, MG is carving a niche for itself with its advanced cars. One of them is the MG ZS EV that starts for Rs. 20.88 lakhs (ex-showroom). The car’s unique feature is the fast-charging battery that charges from 0% to 80% within an hour. The vehicle can run up to 340 km on a full charge.
Mercedes Benz EQC
If you are looking for an EV in the premium segment, Mercedes can be your best bet. It is India’s first luxury electric car with prices starting from Rs. 99.30 lakhs (ex-showroom). The car has an 80kWH lithium-ion battery and a DC fast charger which takes about 90 minutes to charge the car to 80%. The capacity of the car is 350 km on a single charge.
An electric sedan offered by Mahindra, e-Verito has a voluminous boot space of 510 liters, tubeless steel wheels, and electro-hydraulic power steering. e-Verto is the lowest priced among all the aforementioned electric cars, with prices starting from Rs. 10.11 lakhs (ex-showroom). The charging takes about 2 hours, and the car can cover a distance of 140 km on a full charge.
Which one would you pick?
Financing your electric car
While the cars above are the best electric vehicles available in the market today, you need considerable funds to buy your favorite one. If your savings are not enough or you don’t want to put a dent in your portfolio, you can opt for a personal loan. The loan would grant you the funds needed to buy the intelligent EV of your choice. The individual loan interest rates are affordable, ensuring that you can buy the car without straining your budget. You can also claim a deduction on the interest paid under Section 80 EEB of the Income Tax Act, 1961, up to a limit of Rs. 1.5 lakhs. A personal loan thus not only helps you finance the car and helps in saving taxes.
So, choose your car and then use a personal loan to finance it. Use the personal loan EMI calculator to arrive at an affordable EMI for the loan. This would ensure that your car purchase does not disturb your finances, and you can repay the loan quickly over the chosen tenure.
Electric cars are the future. So, be a part of this future and reduce your carbon footprint along the way.