Let's See Who Is Burning a Hole In Your Pocket

Let's see who is burning a hole in your pocket— an EV or a Petrol Vehicle:

The average Ex-Showroom price of an EV scooter comes out to be Rs. 1,20,000

Ola S1 X- Rs. 79,999

Ather 450X- Rs. 1,37,803

Bajaj Chetak- Rs. 99,998

Similarly, the average Ex-showroom price of a petrol vehicle comes out to be Rs. 80,000

Suzuki Access 125- Rs. 82,253

TVS Ntorq 125- Rs. 87,133

Honda Activa 6G- Rs. 77,712

From this, you might think that an EV costs more than a petrol vehicle. But what if we dig deeper and look at the total cost of ownership?

How Much Does Servicing Cost?

Petrol scooters have a complex engine and multiple parts like transmission, gearbox, converters, filters, etc. This requires more frequent servicing, totaling ?30,000 over five years (?6000 per annum).

Whereas, EVs have fewer moving parts and require less maintenance, resulting in a servicing cost of only ?5,000 over the same period.

What about the Replacement Cost?

EVs are built with advanced technology and specialized parts so the replacement cost is slightly higher in EVs as compared to Petrol Vehicles, i.e., ?15,000 for 5 years. For petrol vehicles, these costs amount to ?10,000 over five years.?

The insurance cost of petrol vehicles is slightly less as compared to EVs, simply because of the initial investment and specialized parts.?

And the Monthly Running Cost?

Coming to the monthly running cost, fuel prices for petrol vehicles and the electricity for EVs have a stark difference. An EV costs just ?220 per month, on the other hand, a petrol vehicle costs ?3,552 per month to run. Here we see the considerable amount we can save with EVs every month. (Fuel and Electricity Prices are taken of Delhi)

Over five years, the total running cost for a petrol vehicle is ?2,13,120 and for an EV, the total running cost is ?13,224 showing the cost-effectiveness of the vehicle.

Finally! The Total Cost of Ownership

By adding the Fixed and Running costs, the Total Cost of Ownership over five years comes out to be ?3,38,420 for Petrol Vehicles and ?1,89,224 for an EV over the same period.

Driving an EV leads to savings of ?1,49,195.51

As long as the initial investment does not bother you, EVs are better than petrol Vehicles in almost every way possible!

Sources:

INTERNATIONAL COUNCIL ON CLEAN TRANSPORTATION - https://theicct.org/sites/default/files/publications/E2W-cost-2030-India-jul2021.pdf

https://www.pluginindia.com/