E-vehicles cost-effective in long run – EQ Mag Pro
Hyderabad: Telangana is seeing a steady rise in the number of e-vehicles, with over 3,000 electric cars and bikes currently being used in the Greater Hyderabad Municipal Corporation (GHMC), Warangal and Karimnagar.
Electric vehicles promote a green economy as they produce zero tailpipe emissions, thus making their impact cleaner, better and more advantageous for the environment than conventional vehicles.
Apart from being good for the environment, though they are slightly costlier than fuel-powered vehicles, e-vehicles are capable of paying for themselves in the longer run. N Janaiah, VC and Managing Director of Telangana State Renewable Energy Development Corporation (TSREDCO) Limited, assures that these eco-friendly vehicles do not burn a hole in the common man’s pocket.
“Having a two-wheeler or four-wheeler is not a luxury, but a necessity. Most people overlook the entire cost that they incur during a vehicle’s lifetime and just take into account the amount they pay when buying the vehicle. However, for most normal vehicles, lifetime ownership cost is way more than its purchase price. While the initial price of an EV might be significantly higher, the maintenance cost thereafter is almost negligible,” he shares.
Explaining how an EV is more cost-efficient, he says, “Let us take the example of a car. A conventional internal combustion (IC) car has around 1200-2000 components in it. We generally get our vehicles serviced about four times annually, which can cost between Rs.6,000 and Rs.10,000 each – making the annual cost of maintenance around Rs.24,000 to Rs.40,000. On the other hand, an EV has about 100-120 components. It requires two annual services, costing between Rs.500 to Rs.1,200 each. Thus a customer will be spending only about Rs.1,000 to Rs.2,400 annually on an EV’s maintenance.”
“The cost of running a conventional petrol vehicle per kilometre is about Rs.7 to Rs.8; whereas that of a diesel car is around Rs.5 to Rs.6. Since the fuel prices are likely to rise further, the cost or running of these vehicles will also shoot up. However, an electric car costs about Rs 0.85 to Rs 1.2 to run for a kilometre. As these vehicles are long term investments for most people, the difference between the cost of running a conventional vehicle and EV for 1,00,000 kilometres will be around Rs.1,50,000,” Janaiah adds.
There are more financial benefits to owning an EV. To encourage the use of electric vehicles, the Telangana government has also exempted road tax and registration fee for the electric two, three and four-wheelers, light commercial, shared transport and public transport vehicles purchased and registered within the State. This order was issued earlier this year, under the Telangana Electric Vehicles and Energy Storage policy.
Source: telanganatoday
