What if we tell you that owning an EV could be cheaper than the ICE powered car? Well, we are almost approaching that point where the long run ownership costs of an Electric Vehicle could almost be at par with the Internal Combustion Engine power car. Now, we must mention here that the prices are not of the exact same car. But if we talk about cars from the adjacent segments in some countries, the EV could actually save you money compared to a traditional car. This data is published in the Auto Zeitung Magazine in Germany and has been publicized by the VW CEO, Herbert Diess. VW is the largest carmaker in the world and is beginning to introduce cool EV models as a part of its future expansion. Here are the findings of that report.
Could An EV Car Be Cheaper Than ICE Car?
The survey took two vehicles of a similar price range from VW, Skoda and Audi. In all these cases, the subsidies are according to the German rules and will be different for different countries around the world. Nevertheless, almost all countries are offering various subsidies to promote the adoption of EVs including India. There are tax waivers for EVs in most countries too which makes the price difference a lot less considering high road taxes. However, the main point of difference is the fuel prices these days. Also, they are constantly going up. In India, for instance, the fuel prices have already crossed the Rs 110-mark in various cities. That is the main point of difference. The price of power consumption is way less in EVs than in traditional cars.
This difference becomes more and more apparent as drive more. The savings will keep on continuing as you keep cloaking the miles (or km) on our car. Therefore, owning an EV, in the long run, will definitely prove to be cheaper than IC engine-powered car. With the rise of fuel prices in India, people are already beginning to shift to EVs. The only thing holding them back is the lack of infrastructure. That is also changing rapidly. It will take some time and by then we will also have new models of EVs in our market which will give the customers more options. Therefore, it is just a matter of time before people will start buying EVs extensively because it will be cheaper to own them over longer periods of time.
Image Source: Electrek