Electric Vehicles- Are They Garnering More Public Interest in 2022?

In the past couple of months, we have faced the devastating effects of COVID-19 which has brought the cities of India to an impasse. The socioeconomic conditions of the urban population as a result of the nationwide lockdown have been nothing short of adverse. As we gradually start to see a glimmer of normalcy again, the commoner faces another challenge, the rising cost of fuel that cannot fit his budget. Due to the hike in fuel prices, transportation has become very expensive for the average family in any Indian city.

Diesel and petrol prices are at an all-time high! In an article published, the Petrol and diesel prices in Mumbai were reported to be Rs. 120.51 and 104.77 respectively, with other metropolitan cities reporting similar numbers. This, in turn, has forced the commuters towards cheaper and alternate transportation solutions. A potential cheaper option that is becoming more popular is Electric Vehicles. Grids power these Electric Vehicles and hence the high operational costs of fuel-driven vehicles can be avoided. The TCO (total cost of ownership) of an electric vehicle is significantly lower than petrol or diesel vehicles in the long run.

Take, for example, a person buying a private vehicle in a metropolitan city in India and commuting about 50 kilometers every day can save over Rs. 2/- per kilometre using an electric vehicle instead of a petrol vehicle. In the long run, this amount becomes significant, and EV charge point manufacturers are also making efforts to keep the cost of charging the EV vehicle as low as possible. 


Generally, people used to avoid purchasing Electric vehicles as they are more expensive to buy than traditional fuel-driven vehicles. Nonetheless, the daily operational cost of an electric vehicle is significantly lower than that of fuel-driven vehicles. The fuel cost, the repair cost, and the maintenance cost can all be cut down if one buys an electric vehicle.

In the coming future, as the fuel prices continue to rise and the EV sector develops and becomes more established, people will very quickly make the switch as EV vehicles will become a more viable option.

While the ecosystem of Electric Vehicles is still developing in India, the Government is beginning to incentivise the purchase of EVs by providing exemptions and subsidies and drafting favorable policies to promote the growth of EV charger manufacturers in India. The Banks in India are also jumping on the bandwagon and striving to provide Green loans with low-interest rates to help their clients transition. 

One of the significant contributors in the prices of Evs, the battery, is also becoming cheaper as the months roll by. EV charger manufacturers are also indulged in improving their infrastructure to serve customers at their best. 

All in all, the above-mentioned developments indicate the ever-increasing trend of EVs and the decline of their fuel-driven counterparts. 

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