Electric Vehicles (EVs) are viewed as a solution to several challenges – reducing emission of greenhouse gases, sustainable economic growth, improving air quality, and reducing fossil fuel imports – in India. However, the transition from a fossil fuel based transport system to an electric mobility system faces variety of road blocks. One of the major barriers to this transition is unaffordability of EVs vis-a-vis traditional internal combustion engine vehicles. The battery in an EV is its most expensive component – accounting for 50 per cent of its total cost; thus, the affordability of EVs is directly proportional to the affordability
