Like an IC engine automobile where the engine and the driveline make up the key aggregates, in EVs the key aggregates are the battery and the motor. While an IC engine may account for 23 to 30 percent of the total cost and the driveline component such as a gearbox, propeller shaft, transaxle or a differential may together cost another 15 to 20 percent of the total vehicle cost, in the case of an EV, it may not be that simple. 

It is therefore necessary to find out about the battery and motor replacement cost before buying an EV. A young Canadian owner – Kyle Hsu – of Hyundai Ioniq 5 was thrown out of his seat almost when he found out that the warranty was void on the battery pack of his one-year-old electric vehicle and it would cost him a little over $ 60,000 to replace it! The car was bought in 2022 for $ 56,000. 

Hsu was driving to the interior of British Columbia, according to the YouTube channel Motormouth which has highlighted the development, when he avoided something on the road. On the cautionary side, he dropped at the dealer to get the car checked after he returned from the trip. 

The battery cover underneath the e-car was founded to have been scratched. The dealer conveyed that the battery behind the cover had been impacted and should be replaced since it may explode. It was not repairable. 

Hsu took the help of the insurance company once he was told that it would cost over $ 60,000 to replace the battery. The insurance company told him that his vehicle IDV was less than the cost of replacing the battery. If he were to choose to replace the battery, the insurance costs were likely to go up by 50 percent despite his clean driving record. 

Responding to Motormouth, the Hyundai Canada PR Manager Jennifer Mcarthy is known to have said that it amounts to a very rare situation and Hyundai Canada’s customer experience team should have had the opportunity to access the situation prior to sharing of costing. 

The cost of battery replacement depends on the nature of the damage, type of battery and repairs required. There is no one set price for ever replacement while battery cost is a challenge for the business. Pricing strategy for batteries that is reasonable, fair and in line with market competitiveness is being worked on, Mcarthy is known to have expressed further.

In his column in The Guardian newspaper recently, actor and automobile enthusiast Rowan Atkinson stated that he loves electric vehicles and was an early adopter. He however felt increasingly duped. 

An electrical and electronic engineer by education, Atkinson is of the opinion that electric motoring does not seem to be quite the environmental panacea it is claimed to be. 

Stating that electric cars have zero exhaust emissions, which is a welcome development, particularly in respect of the air quality in city centres, Atkinson said in his column, if you zoom out a bit and look at a bigger picture that includes the car’s manufacture, the situation is very different. “The problem lies with the lithium-ion batteries fitted currently to nearly all electric vehicles: They’re absurdly heavy, huge amounts of energy are required to make them and they are estimated to last only upwards of 10 years,” he averred. 

Drawing attention to solid-state battery development, Atkinson expressed that if hydrogen wins the race to power trucks and as a result every filling station stocks it, it could be popular and accessible choice for cars. 

Till then, keeping the old petrol vehicle may be better than buying an EV since it costs far less to make and can last for 30 years with tender loving care. 

If the majority of the first owners would retain their vehicles for over five years, it would result in an amount of CO2 reduction brought about by new cars being put on the road. The entire chain of raw material selection to manufacture, to the end of the road has its share of carbon emissions. 

Though it may be better to reduce our reliance of IC engine vehicles, it would be worth considering that the existing vehicles have already paid their environmental dues – cost to the environment – during their manufacturing process. A lot of technological development has also made them far less polluting and reliable than they were a few years or decades ago. 

Also, the possibility of writing off a one-year-old EV because its battery replacement cost exceeds the vehicle purchase cost is countered by the engine, gearbox or a body part being repairable in case of an IC engine vehicle.

Many of you would also remember the head honchos of some auto companies in India saying that BS VI emission compliant vehicles will only emit water through the tailpipe and will be cleaner than the ambient air. 

The time is ripe to understand what is ‘actually’ environment friendly, an EV or an IC vehicle. The time is right to test and analyse if it the automobiles that are causing more pollution in Indian cities or there are other sources. An air filled with so much dust does not seem like the handiwork of automobiles rather than the gigantic civil projects that being worked on. 

Digital lending platform Revfin has strengthened its management with the appointment of three senior executives as part of its FY2026 strategy, targeting INR 7.5 billion in disbursements and 5x growth over the past two years. The company also expects to cross INR 20 billion in cumulative disbursements since inception.

The new appointments include Abhinandan Narayan, Chief Business Officer – New Business, Monish Vohra, COO – Operations & Collections and Anirudh Gupta, Chief Finance & Strategy Officer. The appointments the company shared aligns with its focus on ‘People, Process, Profitability.’

Furthermore, Revfin has outlined its ambition to finance 24,000 EVs in FY2026. Till date, it claims to have financed over 85,000 EVs across 25 states, with 75 percent of borrowers from marginalised communities. Cumulatively, its driver partners have covered 1.6 billion electric miles and earned over USD 400 million.

In FY2025, the company grew its L5 EV loan book by 1,700 percent, supported by a partnership with Bajaj Auto and expanded collaborations with logistics firms. The L5 segment remains a key focus as a replacement for ICE vehicles in urban transport.

Sameer Aggarwal, Founder & CEO, Revfin, said, “The last financial year was a volatile one for the EV industry, but the excitement and energy within the sector remain undiminished. At Revfin, we are deeply convinced that intracity and small commercial vehicles must – and will – transition 100 percent to electric within the next three years. The opportunity is here and now. It’s time to set bold targets and pursue hypergrowth over the next two years. At this critical juncture, the right leadership becomes essential to realizing our ambitions. With the strong momentum we’ve already built, we’re confident the journey ahead will be even more rewarding. We’ve entered 2025 with a sharp focus on what truly matters: People, Processes, and Profitability. These latest leadership hires are a natural extension of that focus and our commitment to scale with purpose.”

Ahmedabad-based clean energy company Matter has launched its flagship electric motorcycle – the Aera, in Bengaluru at an introductory price of IRN 179,000 for the first 500 customers, post which it will be available at INR 188,000. The company has started taking pre-registrations for the e-motorcycle at INR 1,999.

Furthermore, the company has also announced that its first Experience Hub will come up at BTM Layout, which will showcase its tech prowess and philosophy firsthand.

The Matter Aera is claimed to be the world's first electric motorcycle with manual gears – 4-speed transmission, 3 ride modes that delivers 12 unique ride combinations. It features a 7-inch Smart Touchscreen Dashboard, onboard charger and liquid cooled powertrain. The e-motorcycle has a claimed IDC range of up to 172km, a zero to 40 kmph in 2.8 seconds, dual disc brakes with ABS, telescopic front fork and dual rear suspension.

Mohal Lalbhai, Founder & Group CEO, Matter Energy, said, “There’s no better city to lead this journey than Bengaluru—where innovation isn’t just an idea, it’s a way of life. Every lane, every rider here resonates with purpose and progress. The Aera isn’t just a bike – it’s the 22nd Century motorbike. It delivers the thrill of a rocket and the practicality your pocket loves. With our in-house developed Hypershift manual gearbox, liquid-cooled powertrain, and connected tech, AERA brings together performance, emotion, and sustainability like never before.”

The Kia EV3 has won the prestigious ‘2025 World Car of the Year’ award at the globally renowned 2025 World Car Awards ceremony, held during the New York International Auto Show (NYIAS).

A jury of 96 distinguished worldwide automotive journalists from 30 nations assessed the 2025 World Car Awards. With the EV3's triumph, Kia has now won six World Car Awards since 2020. The EV3 has a dramatic, forward-thinking design and a creative, useful interior that makes the most of available space, comfort and utility. The EV3 can charge from 10 to 80 percent in 31 minutes and has a segment-leading range of up to 375 miles (around 603 kilometres). While Kia's AI Assistant, advanced driving assistance systems (ADAS) and Over-the-Air (OTA) upgrades improve the ownership experience with cutting-edge technology, the vehicle's creative interior design maximizes room, comfort and accessibility.

Ho Sung Song, President and CEO, Kia, said, “It is an immense honour for everyone at Kia that the EV3 has been awarded the 2025 World Car of the Year title. This award highlights Kia’s global leadership in providing design-led, technologically advanced, sustainable mobility solutions and how the EV3’s class-leading attributes redefine the user experience for customers worldwide.”

The Hyundai INSTER sub-compact EV has won the prestigious 2025 World Electric Vehicle award at the globally renowned 2025 World Car Awards ceremony, held during the New York International Auto Show (NYIAS).

With this recognition, Hyundai Motor Company has dominated one or more World Car Awards categories for the fourth year in a row. Hyundai Motor's commitment to developing EV technology and sustainability is highlighted by the 2025 World Electric Vehicle award, which also acknowledges INSTER's exceptional value in the EV market. The finalists were chosen by a sealed-ballot jury consisting of 96 international automotive journalists from 30 different countries. On 16 April 2025, the winners were revealed at the 2025 NYIAS. With its unique design, remarkable driving range and state-of-the-art technology, INSTER is the market leader in the sub-compact EV sector. A 10- to 80-percent charge can be made in around 30 minutes thanks to INSTER's quick charging technology, and the 49-kWh long-range variant has a range of up to 370 kilometres.

José Muñoz, President and CEO, Hyundai Motor Company, said, “The Hyundai INSTER has been a winner with customers since we introduced it. It’s very gratifying that the experts on the prestigious World Car Awards jurors feel the same way. The combination of compelling design, range, enjoyable driving characteristics, intuitive infotainment and technology that customers appreciate is emblematic of Hyundai’s approach of delivering exceptional value to our customers. The fact that our global portfolio is successful both commercially and critically speaks to the hard-working people throughout the Hyundai value chain who are delivering some of the best vehicles on the road today. Thank you to all the jurors for your service to this great industry.”