The Financial Benefits of Owning an Electric Three Wheeler Auto
The Indian automobile market is witnessing a significant shift towards electric vehicles, particularly in the three-wheeler segment. The electric auto is rapidly gaining popularity among Indian drivers. Here’s why they are the smart choice:
Cost-Effective Operation: One of the most significant financial benefits of owning an electric auto is the cost-effectiveness of its operation. For instance, the fuel expense per kilometer for a 3 wheeler diesel auto is ₹3.75, while for an 3 wheeler electric auto, it’s just ₹0.54. This substantial difference in fuel costs results in significant savings over time.
Lower Maintenance Costs: Electric auto also have lower maintenance costs compared to their diesel counterparts. The maintenance expenses per kilometre for a diesel auto are ₹0.61, while for an electric auto, it’s only ₹0.42. This reduction in maintenance costs contributes to the overall savings in operating expenses, which are ₹4.36 per km for a diesel auto and ₹0.96 per km for an electric auto.
Lifetime Savings: Over the lifetime of the vehicle, which is typically 8 years, these savings accumulate. The operating expense for the lifetime of a diesel auto is ₹13,31,000, while for an electric auto, it’s just ₹4,25,400. This results in savings in operating expenses during the lifetime of 8 years amounting to ₹8,21,600.
Total Cost of Ownership: When considering the total cost of ownership (TCO), which includes both capital expenditure (CAPEX) and operational expenditure (OPEX) over 8 years, the financial benefits of owning an electric auto become even more apparent.
The TCO for a diesel auto is ₹17,60,817, while for an electric auto, it’s only ₹9,74,872. This results in a reduction in TCO of ₹7,85,945, a whopping 45% reduction.
In conclusion, the electric auto price might be higher initially, but the lower operating and maintenance costs make the electric three wheeler auto a financially smart choice for Indian drivers. As more drivers recognize these benefits, the use of electric auto in India is only set to increase.
FAQs:
Q1. What is the average price of an electric three wheeler auto in India?
Electric auto price ranges from ₹3.5 lakh to ₹4.5 lakh (ex-showroom) depending on the city, local taxes & subsidies offered by local government.
Q2. What is the lifespan of an electric auto vehicle battery?
The Lifespan of a three wheeler electric auto battery is around 8 years. OEMs give a warranty of 3 to 5 years, after which there will be a slight decrease in milage.
Q3. What is the average cost per kilometre for Altigreen electric auto?
Three wheeler electric auto have fuel expense at ₹0.54 per km and the maintenance expenses at ₹0.42 per km, totalling to an average operating cost of ₹0.96 per km.
