Top 5 Reasons to Buy an Electric Car Now

Top 5 Reasons to Buy an Electric Car Now Indian automobile drivers are warming up to the idea of EVs. In August 2021, Tata Nexon EV clocked a monthly sales of 1022 units, which was the first time an electric car in the personal segment recorded a 4-digit sales figure. Moreover, the demand for the EV variant is at par with the Diesel variant for Nexon.

So, clearly there is a shift towards EV ownership, mostly amongst innovators. But what is driving this change? This article tries to answer that.

1. The government subsidies are making electric cars more affordable Central government through its Faster Adoption and Manufacturing of Hybrid and Electric vehicle (FAME) II policy, (validity extended from March 2022 to March 2024) provides benefits of a maximum of Rs 1.5 lakh (Rs 10,000 per kWh of the battery capacity).

Over and above the FAME II subsidy, various state governments like Delhi, Gujarat, Maharashtra, Karnataka, AP and Telangana are supporting EV adoption by waiving off registration and road tax.

2. Fuel prices are skyrocketing Petrol and Diesel are at all time highs with an increase of 20% since the year started and with no end in sight to when the prices are going to be decreasing. While EVs are priced at a premium, the increasing fuel prices brings parity to the Total Cost of Ownership. Plus if you are an EV driver, your blood need not rush the next time there is a news bulletin on the increasing fuel charges.

For the uninitiated, read more about TCO here.

3. Low maintenance costs Adding ‘fuel’ to the fire on the Total Cost of ownership of a vehicle is the maintenance costs. EVs are much cheaper to maintain in comparison to the traditional ICE vehicles. To quote Tony Seba, author and EV evangelist, a typical ICE Engine will have 2000+ moving parts in comparison to an EV with about 18 moving parts. Think about all the money you can save in spares and replacements.

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