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How much can you save driving an electric car?


Posted on : 24/May/2018 12:44:43

The latest nationwide sensation was the historic hike of the petrol price, marking a peak in Mumbai with Rs 84.99 per liter according to the revised prices announced on May 23, 2018. Starting from 2014 the petrol prices were gradually increasing in spite of the crude oil rates reduction and fluctuation in the World Economy. Especially this year the prices went to a paramount startling the people life that are dependent on the transportation of goods and also themselves through Motor Vehicles.

The state and Central taxes along with the internal affairs of the Central Government made the skyrocketing of the Petrol and Diesel prices in 2018 and so people are already looking for best alternatives replacing the traditional fuel requirements.

The high prices and taxing, Production cost and the transportation of fuel are the primary reasons of the increased prices of the fuel fallen directly on the heads of the general public. Government being very reluctant towards the regulation of the fuel prices the Automobile Companies are in plans to capitalize this scenario of India for their profits by introducing mass production of electric cars.

The latest report from the Central Government also insisted Oil Companies to build electric charging stations for every 3 kms in the city. It has also announced tax exemptions for the companies building the electric charge stations with land buying options from the government.

The last question from the people will be the cost effective factor of using electric cars. So lets discuss the cost comparisons of petrol and e-car ((Mahindra e2o) to grab a clear picture in terms of fuel expenditures.

The Calculations are done with the assumptions of both the cars (ev-Cars and Petrol Cars) travelling for 5 kms per day for 24 days in a month.

Electric Car (Mahindra e2o) and Petrol Car Comparison

Electric Cars

It is calculated for a full range 140 Km with the total consumption of electricity in full charge of 16.5 units.

Usage of electricity for every One Kilometer: 16.5/140= 0.12 unit

Maximum electricity coast in Delhi is Rs 6.5 per unit that comes around 0.78 or 78 paise per Km.

So the total expenditure in a day will be around Rs 39 (0.78*50) and for 24 days, 39*24= Rs 936.

The calculation indicates the clear cost expenditure of using electric cars with an investment of Rs 936 for the charging of the cars per month.

Petrol Cars

Calculating the petrol pricing of May 2018 in Delhi, Rs 77 per litre, mileage assuming as 15 kmpl, the cost of running per day comes around Rs 254.1.

And for a months expenditure the total cost comes around Rs 6, 098.4 (24*254.1).

Huge Difference is very evident with the analysis of both the cars.

Savings from using an electric car = Rs 6,098.4-936= Rs 5,162.4

The difference in cost was huge in terms of fuel savings and so the future transportation may have a full paradigm shift from petrol and diesel options to Electric vehicles.

The replacement of the lithium ion battery in the electric cars for evevery five years is the main concern to be taken into account, as the price of these batteries cost slightly lesser than half of the price of the car itself.  The current set up has very limited e-charging stations and the battery replacement costs are the primary reasons people opt for petrol and diesel vehicles.

However the future cost reduction in battery replacement and increase of the electric charging stations can bring about a big shift of the vehicles to electric models.