Discovery: Electric Vehicle Calculator (India)
JTBD
“Is an electric car/scooter actually cheaper than petrol over my ownership period?”
Market Context (FY 2025-26)
Government Subsidies
- PM E-DRIVE scheme (replaced FAME II from Oct 2024): ₹2,500/kWh subsidy for electric 2-wheelers, capped at 15% of ex-showroom price. Subsidy expected to halve from Apr 2025.
- Electric cars: NO central subsidy for private passenger cars currently under PM E-DRIVE. Only e-buses and commercial vehicles covered.
- State subsidies (verify current status):
- Delhi: ₹30,000 for 2-wheelers, road tax exemption, reduced registration
- Gujarat: Partial subsidy for 2W/3W EVs
- Maharashtra: Road tax + registration fee waiver for EVs
- Karnataka, Rajasthan, Tamil Nadu: Various incentives — check state EV policies
Total Cost of Ownership (TCO) Benchmarks
- EV scooter: ~₹1,00,000 purchase + ~₹0.15/km running cost
- Petrol scooter: ~₹80,000 purchase + ~₹3/km running cost
- EV car: ~₹15,00,000 purchase + ~₹1/km running cost
- Petrol car: ~₹10,00,000 purchase + ~₹6-7/km running cost
Energy Costs
- Electricity (home charging): ₹5-8/kWh depending on state and slab
- Public fast charger: ₹15-20/kWh (Tata Power, Ather Grid, etc.)
- Petrol price: ~₹105/L (March 2026 estimate, Delhi)
Ownership Costs
- Battery degradation: ~10-15% capacity loss over 8 years (most OEMs guarantee 70% capacity for 8 years)
- Insurance: EV premiums 15-20% higher than equivalent ICE vehicles (battery replacement risk)
- Resale value: EVs depreciate 20-30% more than ICE equivalents (battery concerns, fast tech obsolescence)
- Maintenance: EV ~40-60% lower than ICE (no oil changes, fewer brake replacements due to regen braking)
- Road tax: Many states exempt EVs from road tax
Key Vehicles (Reference Points)
- 2-wheelers: Ola S1 Pro, Ather 450X, TVS iQube, Bajaj Chetak vs Honda Activa, TVS Jupiter
- Cars: Tata Nexon EV, MG ZS EV, Mahindra XEV 9e vs Maruti Brezza, Hyundai Creta, Tata Nexon petrol
Calculator Tabs
Tab 1: EV vs Petrol TCO
- Inputs: vehicle type (scooter/car), EV price, petrol vehicle price, monthly km, holding period
- Calculation: 5-year TCO = purchase price + fuel/charging cost + insurance + maintenance - resale value
- Output: Side-by-side TCO comparison with savings
Tab 2: Charging Cost
- Inputs: daily commute (km), EV efficiency (Wh/km), electricity rate (₹/kWh), petrol mileage (km/L), petrol price
- Calculation: Monthly charging cost vs monthly petrol cost
- Output: Monthly and annual fuel savings
Tab 3: Break-Even Point
- Inputs: EV price premium (EV price - petrol price), monthly fuel saving
- Calculation: Months = price premium / monthly fuel saving
- Output: Months/years to break even on the higher EV purchase price
Sources
- Ministry of Heavy Industries (PM E-DRIVE notification)
- State EV policies (Delhi, Gujarat, Maharashtra portals)
- ICAT (International Centre for Automotive Technology)
- Petroleum Planning & Analysis Cell (PPAC) for fuel prices
- OEM websites for vehicle pricing and specifications