Amidst rising fuel prices and pollution, there is only one big question in the mind of every car buyer today, whether to buy an electric car (EV) or a petrol car? At first glance, EV seems expensive due to its high price, whereas petrol car fits in the budget. But the real game starts when the car hits the road.
Do you know that after driving just 50,000 kilometers, there is a huge difference in the cost of both? An EV, which may seem heavy in initial investment, can save you lakhs of rupees after covering long distances. Come, without any confusion, let us understand which car will prove to be the real value for money for you with simple mathematics of maintenance, running cost and resale value.
Mathematics of Initial Price (Buying Cost)
There is a big difference in the starting price of petrol and electric cars. Generally, compared to a petrol car of the same segment and model, its EV variant is costlier by around Rs 3 to 5 lakh.
Petrol Car: Low starting price, low down payment and low loan EMI.
Electric Car: Higher starting price, but the difference is reduced slightly due to tax exemptions and subsidies on road tax and registration fees in many states.
Running cost: direct calculation per kilometer
The real cost of driving a car is decided from here. While petrol prices are skyrocketing, electricity rates are quite cheap.
Petrol Car: If the car gives a mileage of 15 km/litre and petrol is ₹100/litre, then the cost per kilometer comes to around ₹6.66.
Electric Car: It takes about 30-40 units of electricity to fully charge a normal EV (costs about ₹ 300), which enables it to travel 300 km. According to this, the cost of EV comes to only ₹ 1 to ₹ 1.50 per kilometer.
Total savings after 50,000 kms
Let us now compare the total expenses on fuel and charging after driving 50,000 kms:
| type of expense | Petrol Car (Mileage: 15 km/l) | EV charging costs |
|---|---|---|
| cost per kilometer | ₹6.66 | ₹1.20 |
| Total cost of 50,000 km | ₹3,33,000 | ₹60,000 |
| Direct savings (on fuel) | – | ₹2,73,000 |
conclusion: The EV saves you around ₹2,73,000 on fuel costs alone, which covers a large part of its higher starting price.
Difference between maintenance and servicing
Maintenance of electric car is very cheap as compared to petrol car. Come, let us know about both-
Petrol Car: Servicing costs for every 10,000 km range from ₹5,000 to ₹8,000 due to engine oil, oil filter, spark plugs, coolant and gearbox. By 50,000 km this cost increases to ₹ 30,000 to ₹ 40,000.
Electric Car: There is no engine in an EV, so neither the oil has to be changed nor the moving parts get damaged. It only costs tyres, brake pads and AC filter. Its maintenance cost in 50,000 km is less than half that of petrol.
What is better for you?
After driving 50,000 kilometers, the EV not only recovers the extra cost of its petrol variant, but also starts saving you lakhs of rupees (about more than Rs 3 lakh including fuel + maintenance).
Buy EV then: If your daily commute is more than 50-60 kms, you want to keep the car for 5-7 years and you have charging facility at home.
Buy a petrol car then: If your annual running is very low (less than 500 km a month), budget is limited or you often travel on long routes where charging infrastructure is weak.