Electric vs Petrol Car Cost: There was a time when there used to be a huge difference between the prices of petrol and diesel, but now the prices of both have become almost equal. In such a situation, people are now turning towards new and cheaper options. In which the craze of electric vehicles is becoming the most popular at this time. The running cost of electric cars is very low, and their maintenance cost is also low, due to which the image of customers to understand it as a cheap option is created. But the cost of electric cars is much higher than the cost of petrol tax. In such a situation, if you buy an electric car, then how long will you be able to compensate for the difference between the prices of these cars, today we are going to give you information about it.
what is the difference in price
To explain this math, the complete calculation has been explained in a video through an excel sheet on the YouTube channel named Asset Yogi. For example, if we compare the EV and petrol versions of Tata Nexon, then we can understand it as follows.
The XMA AMT petrol variant of the Tata Nexon costs Rs. 11.23 lakh on-road with a road tax of Rs. 70,000.
Whereas, the on-road price of the XZ Plus variant of the Tata Nexon EV Prime is around Rs. 17.21 lakhs. You don’t have to pay road tax on electric vehicles, so now there is a difference of about Rs 6 lakh between the two cars.
How much is the running cost
If we talk about the running cost for 5 years, then if we assume that you travel 40 kms per day, you will end up with an average of 14,600 kms per year. In which the cost of running per kilometer by a petrol car is Rs 7 and by electric car it is Rs 0.70.
Apart from this expense, you will have to spend around 6 lakh rupees in 5 years by adding all other expenses like insurance and service. In this case, after 5 years, the total expenditure (price and running cost) on a petrol car is Rs 17.21 lakh, while the cost of an electric car after 5 years is Rs 18.82 lakh. That means even after 5 years, an electric car will be costlier than a petrol car.
also understand
You can consider the difference of Rs.6,00,000 between the cost of both the cars as an investment. That is, if the person buying the petrol car makes a 5-year FD of the remaining Rs 6 lakh, then it becomes around Rs 8 lakh. Which means you can still make a profit by buying a petrol car.
