Eco-Friendly Car Choices on the Rise: ACKO Drive Reports Growing Demand for EVs

Over the last few years, Indian car buyers have started becoming more conscious about their environmental impact. This growing focus on sustainability has led to a steady rise in demand for eco-friendly cars, especially electric vehicles (EVs). Leading online insurance provider ACKO Drive has taken note of this trend and is supporting India’s transition towards greener mobility.

Shifting Mindsets Drive EV Adoption

Historically, Indian car buyers have hesitated to switch to EVs due to high upfront costs, lack of charging infrastructure, and concerns over range. However, mindsets are changing, especially in metro cities, as buyers begin to recognise the environmental and economic benefits of owning an EV.

Rising affluence levels, coupled with greater environmental awareness, are making buyers reconsider EVs. Moreover, falling battery prices and the roll-out of newer long-range EV models have made them more viable for daily use.

The government also encourages EV adoption through policies like the FAME scheme, which offers subsidies for buying electric cars, two-wheelers, and buses. Some state governments provide additional incentives like registration tax exemptions and lower electricity tariffs for EV charging.

ACKO Drive Responds to Spurt in Demand

As EVs gain traction in India, online insurance providers like ACKO Drive are taking notice and catering to this emerging customer segment.

ACKO Drive now offers dedicated EV insurance policies that provide flexible coverage while factoring in electric cars’ unique requirements. Their policies account for the high cost of replacing EV batteries and cover fire risks associated with EV charging infrastructure.

“We have seen a multi-fold jump in demand for EV insurance as more customers switch from conventional fuel cars,” said Varun Dua, CEO of ACKO Drive. “Our EV insurance products offer specially enhanced coverage to address the specific risks involved.”

ACKO Drive also helps buyers make informed purchasing decisions by providing detailed information on the latest EV models launched in India across vehicle segments. Their platform compares important metrics like driving range, charging time, safety ratings, prices, and government incentives provided for each model.

“We aim to educate buyers on all the pros and cons of owning an EV so they can decide if it suits their specific mobility needs,” added Dua. “Our EV buying guide and comparison tools are proving very useful for customers who are still unsure about making the switch.”

Challenges and How ACKO Drive is Bridging the Gap

While EV adoption is rising, challenges like limited charging infrastructure and a need for more awareness remain. ACKO Drive addresses these challenges by providing a platform where buyers can find charging station locations, explore vehicle financing options, and understand the total cost of EV ownership.

The platform’s collaboration with EV manufacturers and financial institutions also ensures a seamless buying experience. Buyers can access zero down payment options, low-interest EMIs, and bundled insurance plans tailored for EV owners.

Future Outlook: Greener Roads Ahead

Industry experts predict India’s EV market will continue expanding rapidly as more automakers launch affordable electric car models with better features and performance.

Improving charging infrastructure availability through private and public investments will also drive adoption. Meanwhile, online players like ACKO Drive are gearing up to cater to the anticipated surge in demand for associated services like customised EV insurance.

As climate change concerns come to the fore globally, Indian car buyers are also expected to make the eco-friendly switch faster. For India to meet its larger renewable energy goals, electrifying transport is key. So, while supply dynamics play catch-up, the demand for cleaner personal transport is only headed upwards.