Are EVs More Affordable than Conventional Vehicles?

Are EVs the wallet-friendly choice in the long run? Let's compare!

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Cost comparison of 2 & 4 Wheeler EVs with Traditional Vehicles.

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Using the Nexon as an example, the price difference ranges from -INR 50K to +INR 56K (or even +2.6L in certain EV models).

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EV 2-wheelers can range between INR 1.22L to 1.76L. For ICE 2-wheelers, the price is INR 1L to 1.84L.

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Banks like SBI, Axis, and HDFC offer 8.65-9.35% rates on 4-wheeler EV loans, compared to 8.9-13.1% on motor vehicle financing.

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Insurance Costs from an independent provider for EVs tend to be 25-60% higher than ICE.

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According to our estimates, EVs cost only about one-tenth of ICE vehicles, around INR 12 per km.

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In the coming years, the EV prices and associated costs will drop drastically. Swipe up to learn more!

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Are EVs the wallet-friendly choice in the long run? Let's compare!

Cost comparison of 2 & 4 Wheeler EVs with Traditional Vehicles.

Cost: EV v/s TRadtional Vehicles

Using the Nexon as an example, the price difference ranges from -INR 50K to +INR 56K (or even +2.6L in certain EV models).

On-Road Cost: EV v/s Traditional 4W

EV 2-wheelers can range between INR 1.22L to 1.76L. For ICE 2-wheelers, the price is INR 1L to 1.84L.

On-Road Cost: EV v/s Traditional 2W

Banks like SBI, Axis, and HDFC offer 8.65-9.35% rates on 4-wheeler EV loans, compared to 8.9-13.1% on motor vehicle financing.

Cost Of Financing

Insurance Costs from an independent provider for EVs tend to be 25-60% higher than ICE.

Insurance Cost:

According to our estimates, EVs cost only about one-tenth of ICE vehicles, around INR 12 per km.

Operating Costs

In the coming years, the EV prices and associated costs will drop drastically. Swipe up to learn more!

Our Finding?