Currently (2018), petrol rates are hovering at around Rs 80 or more in some cities. Based on this atrocious rate, we have made the following calculations:
- The cost of operating a small ICE car (Hyundai i10, Maruti Celerio Automatic or equivalent) after 4 years is around Rs 3,06,640
- The cost of operating a small electric car hatchback (e2o Classic, e2o Plus) after 4 years is around Rs 39,000
- The cost of operating an ICE scooter (Honda Activa, TVS Jupiter etc) after 2 years is around Rs 36,600
- The cost of operating an electric scooter (Hero Photon, Okinawa Ridge+) after 2 years is around Rs 3,400
- What about an e-Bike or an electric cycle? Oh, it just destroys the petrol scooter in economy 🙂
The data we used to arrive at these figures which include ‘fuel’ costs and maintenance costs, and the data stems from our experiences with lithium-ion based electric vehicles.
For an electric car, battery replacement costs only need to be considered after 8 or 9 years. For a lithium-ion electric scooter, battery replacement costs only need to be considered after 5 or 6 years. So, these numbers were not factored into the above calculations.
You always need to look at the total cost of ownership over many years for both ICEs and EVs. If you do that, EV’s will always win because of the low cost of operating them.
Thanks to PluginIndia’s research.
Source : PluginIndia