THE EV ECONOMICS

NOIDA-BASED KARAN KUMAR has a daily commute of over 60 km. The 26-year-old software engineer, who drives his own car, travels to work 30 km away in Delhi and back home. Rising fuel prices and a drop in his car’s efficiency, however, have made his monthly fuel bill go up significantly, burning a hole in his pocket. Kumar is, therefore, considering buying a new car. But he hasn’t been able to decide which type he should buy: a petrol-based one like before or an electric vehicle (EV). “I spend at least ₹12,000-15,000 every month on fuel alone. Buying an electric car would help reduce this cost, as well as fight the rising pollution in the city. But I am not sure if it will prove to be an economical decision in the long run,” he says.

Kumar is not alone in facing this conundrum. Many like him want to switch to EVs because of the rising fuel costs, but are unclear about an EV’s long-term cost efficiency, given the fact that