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Tata Capital > Blog > Loan for Vehicle > Affordable Electric Cars in India: Top Picks Under 5 Lakhs

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Affordable Electric Cars in India: Top Picks Under 5 Lakhs

Affordable Electric Cars in India: Top Picks Under 5 Lakhs

Electric Vehicles (EVs) have been gaining traction in India, especially with rising concerns about environmental sustainability and sky-rocketing costs of fossil fuels. The Indian EV industry has seen a huge surge in the demand for affordable electric cars, and manufacturers have responded by introducing a range of EVs that cater to different budget segments.

This blog post explores the top picks forelectric cars under 5 lakhs in India, ensuring you get comprehensive information on each option. We also discuss what you should look out for when selecting the perfect EV for your needs.

Top electric cars under 5 Lakhs

1. Strom Motors R3

Priced at ₹4.5 lakh, the Strom Motors R3 is one of the most affordable electric cars available. Designed for urban rides, this hatchback can accommodate two passengers and boasts a range of 200 km on a full charge. Some of its notable features include:

- A 7-inch central infotainment screen.

- Auto climate control.

- Anti-theft GPS tracking system.

- Voice commands and keyless entry.

A 15kW motor powers the R3. This motor generates a power of 20.4PS and a torque of 90Nm, offering a top speed of 80 kmph. Although it lacks fast charging, a full charge takes just 3 hours using a 22kW AC charger.

The Strom Motors R3 is a testament to India's capabilities in the electric vehicle sector. It combines innovation, design, and performance in an affordable package that suits the challenges of urban commuting.

2. PMV EaS E

Another excellent option in theEV cars under the 5 lakhscategory is the PMV EaS E, priced at ₹4.79 lakh. Manufactured by Indian startup PMV Electric, this two-door micro-electric car is designed for daily urban commutes and comes equipped with:

- Dual front airbags

- Rear parking camera

- Anti-theft sensors

- Auto AC and digital driver's display

The EaS E has a 48V battery pack, providing a range of 200 km on a full charge. Charging takes approximately 4.5 hours using a 3.3kW AC charger.

The PMV EaS E offers a comprehensive package of features and performance, making it an attractive proposition for those looking to make their first foray into electric vehicles.

3. Tata Nano EV

The Tata Nano EV is expected to be priced at ₹4 lakh. This car is one of the most anticipated affordable electric car launches. Originally designed for Ola's electric fleet, the Nano EV will soon be available for the general public. Key features include:

- A 7-inch touchscreen display.

- Digital instrument cluster.

- USB ports and ambient lights.

With a 72V induction motor, the Nano EV offers a range of 170 km on a full charge. Charging from 0-80% takes about 4 hours.

The Tata Nano EV represents Tata Motors' commitment to sustainable mobility. By offering an electric variant of an already popular model, Tata aims to make electric vehicles truly accessible.

4. Mahindra Reva i

The Mahindra Reva i, often called the Reva, holds a special place in the annals of Indian automotive history. Launched way back in 2002, it was a pioneer in Indian electric cars. The Mahindra Reva i, priced at ₹3.76 lakhs, is a two-seater electric hatchback designed primarily for city commuting. Although discontinued, it's available in various second-hand markets. Some of its features include:

- Power steering

- Digital driver's display

- Bluetooth-enabled infotainment system

Under the hood, the Mahindra Reva i is powered by an electric motor that churns out 17.4 HP of power and a torque of 52Nm. The Reva i is equipped with a Lead-Acid battery pack of 48V, which provides a driving range of 80 km on a full charge.

Electric Car Buying Guide

Electric Cars are relatively new to the market, so you must thoroughly explore various options before purchasing. There are several unique factors to consider, including:

1. Driving Range

The driving range is one of the most critical considerations for an EV buyer. Always look for real-world range figures rather than just manufacturer claims. Choose a car that offers a comfortable range buffer depending on your daily commute. Understanding how far the vehicle will travel on a full charge is essential.

2. Charging Considerations

The availability of charging stations is crucial. While metro cities in India rapidly expand their charging infrastructure, the situation might differ in smaller towns and rural areas. Check what kind of public charging facilities are available in your area.

Different EVs come with various charging options, including fast charging, standard charging, and slow charging. Understand the charging options available for the car and the associated costs.

3. Battery Life and Warranty

The battery is the heart of an electric car and one of its most expensive components. Always check the warranty and expected lifespan of the battery before purchasing.

4. Maintenance Cost

Generally, EVs have fewer moving parts than conventional vehicles, leading to lower maintenance costs. However, be prepared for potentially higher prices if major components like the battery or motor need repairs.

5. Brand and Model

The Indian EV market is growing, and several reputable brands offer electric cars. Choose a brand and model that aligns with your budget and requirements and has a good reputation for after-sales service.

6. Electric or Hybrid

If you're not ready to go fully electric, consider hybrid vehicles. They combine a conventional engine with an electric motor, offering better fuel efficiency and reduced emissions.

Final Thoughts

As the world grapples with environmental challenges, India is making strides in promoting green mobility. The surge in demand for affordable electric cars in the country is a testament to this commitment. You now have various EV cars under 5 lakhs with options like the Strom Motors R3, PMV EaS E, Tata Nano EV, and the iconic Mahindra Reva i.

As you contemplate switching to electric vehicles, consider the long-term benefits for your finances and the environment. And if the cost is a concern, remember that Tata Capital offers attractive car loan services. With our flexible EMI options and competitive interest rates, your dream of owning an electric vehicle is just a step away.

Explore Tata Capital's vehicle loan offerings and make an informed decision for a greener tomorrow.

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