Prediction of Electric Vehicle Price in India using Simple Linear Regression

Abstract

<div class="section abstract"><div class="htmlview paragraph">The demand for electric vehicles (EVs) has been steadily increasing in recent years, led by the factors like environmental concerns, government incentives, and improvements in EV technology. The EV’s growth is expected to increase in the coming years as EVs become more affordable and more models become available on the market. Predicting the price of electric vehicles provides valuable insights on the EV market and inform a range of business, consumer, financial, and policy decisions. Predicting the price of electric vehicles using simple linear regression involves building a linear regression model with a single independent variable usually the vehicle’s characteristics or features to predict the dependent variable the price.This work has predicted the price of Electric Vehicle using a data set prepared for the Indian context. It has been predicted that there is significant correlation between battery capacity in Ah and the vehicle price. The measured RMSE value is 26274.942642891292. The measured value indicates that the model is better at predicting the price of an electrical vehicle.</div></div>