NO, The straight answer to this question is no.
But do you know why? There are so many reasons and factors on which this “NO” depends. As increasing electricity prices, bad infrastructure, high cost of battery replacement, average driving cost, fewer people awareness, overall vehicle cost in years, and many more.
In this blog, we will explore the reasons why buying EVs is not worth it in India.
1. Overall Vehicle Cost
Let us consider price of the vehicle
EV vehicle(Ather, Ola, etc.) which has Li-ion battery & vehicle costs – 1.4Lakh
Petrol scooters – 1.2Lakh
So costing will reduce by 20k
Usage:
20-25km/day – Approximately 7 days [excluding Saturday and Sunday as there will be less commute] – 120km/week
120* 4 week – 480km/ month
480 * 12 – 5760km – keep it 6000km/yr
Petrol Costing – 6000/50km/liter = 120ltr * 100 = Rs 12000/yr
Petrol – For 5yrs – Rs60000 & for 10yrs with inflation – Rs 1,50,000
EV vehicle costing
1month charging costs around – Rs200-300/month – Max Rs4k/yr & 5yrs it will cost around 25k [including hike in unit cost of electricity]
Let us consider if battery life is max 5yrs & need to replace it
1kwh battery costs – 15-20k & now we have 4Kwh batteries which costs around 60k to 80k
So let us consider for 10yrs [2 times battery replacement] 80k*2 – 1.60 Lakh + running cost [40 to 50k] = 2 Lakh/10yrs
Let us calculate maintenance (service, spare parts, etc.) for 10yrs,
Petrol – 3k/yr – with inflation – 50k
EV – 1.5k/yr with inflation – 25k
So If we consider overall for 10yrs,
Petrol vehicle – 1.5 Lakh [petrol] + 50k[service, spares] + vehicle price [1.2 Lakh] = 3.2 Lakh[total]
EV – 30k[charging-10yrs] + 1.6 Lakh[battery replacement twice] + vehicle cost[1.4 Lakh] + 25k[service ,spares] = 3.55 Lakh
Durability of EV vehicle is not good compared to petrol vehicles & after 10yrs it wont be of any use where as petrol vehicles can be used for more 20 yrs with FC.
2. High Battery Replacement cost
As You can see in the previous point the average battery replacement cost of an EV bike is approximately 60k-80k which is too high.
For a normal middle class person it is very hard to spend 60K at once. But if in future the price decreases to 5k or 10k then one can think about this and this point will not be a matter of concern while buying an EV.
3. Bad Infrastructure
Right now India doesn’t have the infrastructure EV needed. Only some metro cities of India have EV charging stations and even some of them don’t work at times.
For Example – You are traveling from Delhi to Chandigarh, and in between you Have to cross Haryana. Here problem arises – You can find the charging stations in Delhi and Chandigarh but not in Haryana, or if there are any it is very low in number. So you have to think twice before taking out your EV instead you will prefer your petrol vehicle.
4. Increasing Electricity Prices
The electricity prices are increasing day by day. Which leads to increased driving cost of Electric Vehicle. On 22 June 2023 The BESCOM official further explained that the FPPCA (Fuel and Power Purchase Cost Adjustment) charge of Rs 1.49 per unit, which was decided by the Centre, has also been levied from June and an additional Rs 1.81 per unit is being carried forward to July. This is done as per the Indian Electricity Act.
5. Fewer People Awareness
Right now, electric vehicles (EVs) are flying somewhat under the radar. Not everyone is familiar with them, and many people still prefer their trusty petrol-powered cars. But here’s the thing: change is inevitable, and the shift towards EVs is gathering momentum.
Conclusion
Sure, EVs might come with a bit of a price tag compared to their petrol-powered counterparts. And okay, they might not quite give you that same adrenaline rush as hitting the gas pedal in a roaring sports car. But guess what? They’re worth every penny and then some!
Why? While petrol vehicles might give us a thrill, they’re also pumping out emissions like there’s no tomorrow, choking our planet in the process. But EVs? They’re like the superheroes of the automotive world, swooping in to save the day with their zero emissions and eco-friendly vibes.
If You are thinking to buy an EV you must read these lists