The price of petrol and diesel in India have been on a rise for quite a long. As worldwide crude oil prices went to a three-year high, fuel costs rose across the country. Today, petrol prices had increased by 19 to 25 paise per litre, the price of diesel had increased by 24 to 27 paise per litre.
If there’s one thing that rising fuel prices are helping, it’s the country’s small but rapidly growing electric vehicle (EV) industry.
Electric scooters, rather than fossil-fuel-guzzling two-wheelers, have become a preferred alternative these days for people. These e-scooters range between Rs 95,000-1.3 lakh and in a price-sensitive market, they can be seen as something costly for consumers.
However, if you are buying it, then you could save a lot of money over the long term. With fuel prices exceeding Rs 100 per litre, purchasing a less expensive electric vehicle makes even more sense to save some money.
With the recent launch of Ola Electric’s S1 and S1 Pro, Okinawa, Okaya electric scooter, Simple Energy and Ather Energy scooters available in the market, there are plenty of options for consumers to choose from. Ola Electric debuted its first electric scooters on August 15 with S1 and S1 Pro, which cost Rs 99,999 and Rs 1,29,999, respectively. Meanwhile, another company Okaya has launched the Freedum electric vehicle at a starting price of Rs 69,000. Also, Simple One has been released with a price of Rs 1,09,999 ex-showroom.
If one thinks that buying an electric scooter is an expensive affair, then one should change the way they look at the market as in August, the Ministry of Road Transport and Highways abolished fees for EV registration certificate issuance and renewal.
Besides that, the government has also introduced a tax advantage of up to Rs 1.5 lakh for first-time buyers who take out a loan to buy an electric vehicle. Some states have also provided incentives in addition to the benefits provided by the federal government. All of these procedures have resulted in a significant reduction in the end-user purchasing price.
In the long run, an electric scooter is clearly more cost effective than a fuel scooter.
However, due to the country’s existing weak charging infrastructure, EVs do not offer the same flexibility as petrol vehicles. Range is a problem, especially for electric four-wheelers, because it limits inter-city travel, but since two-wheelers are mostly used for commuting within the city, it shouldn’t be too much of a problem if you plan ahead for charging.