The hidden truth of insurance cost and battery warranty that make your electric vehicle pricey

The hidden truth of insurance cost and battery warranty that make your electric vehicle pricey

Synopsis

Insurance and battery warranty are a significant cost for EVs. For example, these two can add over INR16,000, or 11.7%, to the ex-showroom price of an Ola S1 Pro. For a new Tata Nexon EV, insurance alone can cost over INR45,000. But why? Here’s a low-down.

By Rajiv Ghosh & Kumud Das

11 mins read, Last Updated:
Jul 18, 2023, 12:40:03 PM IST

Promise versus reality. Promise: Launch event announces a very affordable price for a vehicle. Reality: Excited, when you walk into the automaker’s showroom, the salesperson greets you and quotes a price which is much higher than announced. You are given a piece of paper that has the vehicle’s retail-price structure scribbled on it. Baffled, you start reading a long list of things that you need to pay for over and above the ex-showroom price —

( Originally published on Jul 17, 2023 )

Already a Member? Sign In now

To Read the Full Story, Become an ET Prime Member

Access the exclusive Economic Times stories, Editorial and Expert opinion

Monsoon Offer

Get flat 20% off

on ETPrime membership

Membership Benefits

Access the exclusive Economic Times

Stories, Editorial & Expert opinion

Complete Access with ET Prime

Experience your Economic Times newspaper, The way you've always liked!

Get to know where the market gurus invest & grow your portfolio.

Stock Report Plus

In-depth stock analysis for 4000+ companies

Stock Analyzer

Instant stock analysis based on Solvency, Profitability, Growth, Valuation, Momentum, Risk & More.

Now Available with ET Prime

Manage your money efficiently with this weekly guide.

Clean experience

with minimal ads

Easy & distraction-free reading with 90% less ads

Sharp Insight-rich,

In-depth stories across 20+ sectors

1500+ Exclusive stories & analysis across sectors to help you stay informed

Get One Year Times Prime Subscription worth ₹1199 for free

Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-

Enjoy unlimited access to breaking news and thought provoking stories from all around the world.

Get One Year Docubay Subscription worth ₹999 for free

Stream award-winning international documentaries from more than 100 countries.

Offers By Our Partners

Exclusively for ET Prime Members

Members Love Us

The stalwarts of the industry trust ET Prime for insightful analysis & unbiased thought pieces

Gift a story

Your membership includes Story Gifting Credits. Now gift exclusive stories to your friends & peers.

Comment & Engage

with ET Prime community

Communicate & build a connection with great minds of the industry

A trusted team of

Journalists & Analysts

Unbiased perspective & detailed reporting by our team of journalists who have in-depth knowledge and years of experience