Should you buy an electric car?  Comparison with other fuel cars, pros and cons - Economic Times

Should you buy an electric car? Comparison with other fuel cars, pros and cons – Economic Times

As year-end discounts by auto companies and dealers begin to trickle in, new buyers are switching a bunch of decisions. This year, rising petrol/diesel prices and high levels of pollution in the metro have added another decision-basket dilemma: Should I buy an electric car? Potential buyers have a million questions: Are electric cars cheaper in the long run? Where and how is the car shipped? Is the charging infrastructure in place? To help these buyers, ET Wealth weighs the pros and cons, and offers a comparison with other fuel vehicles so they can make an informed decision. In cooperation with CarDekho.com, we also present a list of electric vehicles on the market and those likely to be launched soon.

growth and outlook
An electric vehicle is either partially or entirely powered by electric power using energy stored in batteries, while gasoline and diesel cars use an internal combustion engine (ICE). Although the electric vehicle (EV) market in India is still in its infancy, government efforts to improve infrastructure and introduce incentives mean that the share of e-vehicles is estimated to grow to 12% of passenger vehicles by 2025-26, according to . To a report by JMK Research & Analytics. In fact, registration of new electric passenger cars increased by 109% year-on-year (y-o-y) and sales recorded an increase of 361.78% year-on-year in 2020. The government has also launched FAME or Accreditation and Faster Manufacturing (Hybrid and) electric vehicles, which are It is currently in the second phase (2019-2022) and includes a large number of financial benefits for consumers and manufacturers. To spread more awareness, the government has also launched a website https://www.eamrit. niti.gov.in/ About Electric Vehicles.

Pros and Cons
Despite the growth prospects, there are many challenges facing the electric vehicle sector that increase the comparison with other fuel vehicles. “You’ll need to think about different things before you buy an electric vehicle, such as your spending priority,” says Kartickeya Singhee, Group Editor-in-Chief Girnarsoft, which runs cardekho.com. “Since you can buy a bigger car for the price of an electric car, you’ll have to ask yourself whether you need a bigger car or is it important to go green and cover the additional costs with benefits over time,” he adds. To answer these and other questions, consider the pros and cons of electronic cars.

Read also: How much does it cost to charge an electric car?

Benefits

Lower running cost: A big deciding factor for purchasing an EV is the fuel price and operating cost. Since electric vehicles use electricity to charge batteries, and the local energy tariff ranges from 8 to 10 rupees per unit, the monthly running cost is a fraction of the cost of gasoline or diesel. So if your daily commute in Delhi is 30 km, you will end up spending 5,375 rupees per month on petrol, while the cost of charging an electric car with a 30.2 kWh battery capacity and 312 km range, will be only 697 rupees per month. At home, even less than Rs 392 if you do it at a public charging station. This means that the cost per kilometer for a petrol car with a mileage of about 17 km/l would be Rs 5.97, but for an EV of 30.2 kWh it would be just Rs 0.43 per kilometre. The rate of energy may vary in different states, but it will still be lower compared to the cost of gasoline or diesel.

Lower maintenance cost: Building an electric car will ultimately make you spend less on servicing and maintenance. “Expect to pay less for maintenance because electric vehicles have fewer moving parts which do not need a lot of fluids or filters. For example, Tata estimates around Rs 25,000 in maintenance over five years,” says Senji. Compare this with a petrol or diesel variant, as you will easily spend between 7,000-10,000 rupees per year.

cleaner environment: The impact factor for many buyers is zero carbon emissions and reduced air pollution from electric vehicles. While emissions from exhaust pipes are actually nothing, one also needs to consider emissions at power plants where electricity is generated, especially if it is a coal/fossil fuel based plant. In fact, the carbon emissions of electric vehicles are not zero, but they are still lower than those of gasoline / diesel cars.

Better performance: According to a US-based website, electric vehicle batteries convert 59-62% of energy into vehicle motion, while gasoline-powered vehicles convert only 17-21%, making electric vehicles more efficient. Besides, the electric vehicles are quiet and smooth as there is no exhaust system, providing a good driving experience. It also accelerates instantly, making it respond with good torque. “Most electric vehicles also offer a more spacious interior with flat floors because the powertrains have fewer parts,” says Singhee.

Tax advantages: From the assessment year 2020-21, Section 80EEB allows a deduction of Rs 1.5 lakh for the interest paid on the loan taken for the purchase of electric vehicles. The loan must be sanctioned between April 1, 2019 and March 31, 2023 and is only allowed to individual taxpayers or individuals who operate a business. According to the 2021 budget proposal, a “green tax” will be imposed on personal vehicles after 15 years, while electric and hybrid vehicles will be exempt. Electric vehicles are also exempt from road tax and registration costs in some states such as Delhi, while GST has been reduced from 12% to 5%. Meanwhile, the capital’s “Switch Delhi” campaign is providing a subsidy of Rs 10,000 per kWh for the first 1,000 ecars, with Rs 1.5 lakh per car cover.

Also Read: Best Electric Cars Under Rs 24 lakh

Also Read: Best Luxury Electric Cars Under Rs 1.1 Crore

Electric car vs other fuel cars

Here’s how the Tata Nexon’s electric, gasoline, diesel and CNG variants work under different standards.


Disadvantages

Higher purchase price: Currently, the high upfront cost is a great deterrent to purchasing electric cars. Although this can be offset by lower fuel, operating and maintenance costs, as well as tax incentives, it is still a deciding factor for many that one can buy a bigger petrol car for the same price.

Infrastructure deficiency. Although you can charge the e-car at home, it is cheaper to do it at a public charging station, of which there is very little. Private and public sector companies have already built terminal networks and are planning more, but it will take at least another five years to build a large network. Up to 350 stations have been added under FAME II; Tata has built 1,000 stations and plans to have another 10,000 in three years; IOCL has 448 charging stations and 30 battery replacement stations, and plans to build 10,000 at existing gas stations within three years; And BP will create 7,000 in the next few years.

Longest shipping time: While you can fill up your petrol/diesel car within minutes, it will take 6-8 hours to easily charge your car at home. Even with fast chargers and larger batteries, it will take 35-60 minutes to charge 80%.

Limited drive range: Since a single charge provides a driving range of 200-400 km, the lack of public charging stations means that electric vehicles are only good for city driving, not for long car trips.

Fewer options: Today, there are only 4-5 electric cars in the mass market in India and 5-6 in the luxury segment, with another 5-6 cars to be launched next year. Although government incentives for manufacturers are likely to increase their number, there is limited choice for consumers at the moment.

Higher insurance cost: Electric vehicle insurance is more expensive than gasoline-powered vehicle insurance because electric vehicles are more expensive due to advanced technology and high-capacity batteries, raising the value of IDV. Also, while electronic cars have fewer parts, they are more expensive, as well as batteries, and they are very expensive to repair or replace. While third party insurance rates have been set by Irdai at a 15% discount, the comprehensive policy rates are much higher and do not compensate for the discount.

Also Read: 3 Coming Electric Hybrid Cars priced under Rs 60 lakh

Should you buy?
If the green factor weighs heavily on you, choose an EV as the initial high cost of the purchase will be offset within a few years. Also, if you’re in a metro with public charging stations or you can install one at home, buy one. However, it would make sense to wait 2-3 years until you have a greater choice of cars and a better charging station network.

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