Well, the future of EVs are bright as we know. However, the electric car is expensive as compared to petrol car and the big question here arises is should I buy petrol or electric vehicle?
Today, at the time of buying, electric cars are 25-30% more expensive than other cars. But, the math looks fundamentally different, when you operate. Therefore, for a fair comparison, we have take Tata Nexon XZ - Petrol car Vs Tata Nexon EV to compare the difference between the total cost of ownership over 6 years.
| Comparison | Tata Nexon (XMA S) Petrol | Tata Nexon Prime (XZ Plus) EV |
| Ex-showroom price | 9,94,900 | 16,30,000 |
| Insurance premium | 50,638 | 72, 324 |
| Registration charges | 78,143 | 16,500 |
| Total Purchase Cost | Rs 11, 23,681 | Rs 17,28,824 |
| Service cost | 50,000 | 30,000 |
| Per km cost | 6.92 | 0.68 |
| Fuel cost for 100,000 km | 6,92,857 | 68,181 |
| Total Running Cost | Rs 7,42,857 | Rs 98,181 |
| Insurance (2nd to 6th year) | 39,000 | 55,600 |
| Ownership | Rs 19,05,538 | Rs 18,72,605 |
Price
- A petrol car is comparatively cheaper than electric car. However, it has its own reasons. The batteries used in EVs are way more expensive than petrol cars. Therefore, it is rarely seen on roads because of its price.
- Other reason of higher purchase cost is that the insurance premium of petrol car is economical and on the other hand, the insurance premium of electric car is more expensive.
- However, the registration charges are more cheaper of an electric vehicle. Overall cost of an electric vehicle is more costlier.
Running Cost
- If we talk about the running cost, it is very high of a petrol car. On the contrary, it's very economical of an electric car. If we take an above example, the service cost of an electric vehicle is much cheaper as the battery replacement cost is not included because manufacturers offer 8-year warranty.
- When it comes to fuel efficiency, electric cars are a step ahead of petrol cars. Let's have a look at above table, on an average, if we drive 46 km/day or 6 years, the fuel cost for an electric car much less. Having an electric car saves Rs 6,24,676 on fuel.
- However, the overall running cost of a petrol car is higher on other side.
Insurance
Insuring an electric vehicle will cost you dearly. It is equipped with heavy and costly components. Therefore, the cost of insurance on other side.
Conclusion
If we see after 6 years, buying an electric car is comparatively more cheaper and beneficial for you and environment.
