Electric two-wheelers are increasingly popular nowadays. E-two-wheelers offer several advantages over traditional gasoline-powered vehicles, including lower operating prices, reduced emissions, and government incentives.
In this blog post, we will look at the economic benefits of an Electric Two-Wheeler in India.
1. The upfront cost of purchase
The price can be higher than a gasoline-powered vehicle. However, the cost has been falling steadily in recent years, and they are now more affordable than before.
The Price varies depending on the make, model, and battery capacity. However, the average price of an Electric two-wheeler in India is around Rs. 1 lakh.
2. Cost of electricity
The cost of electricity to operate is much lower than the price of gasoline. In India, the average cost of electricity is Rs. 7 per unit.
A typical electric two-wheeler consumes around 1 unit of electricity per 60 km. This means that the price of electricity to operate is around Rs. 1.20 per km.
3. Government incentives
The Indian government is offering several incentives to promote the adoption of Electric vehicles. These incentives include:
● FAME-II subsidy: The FAME-II subsidy provides up to Rs. 15,000.
● State government subsidies: Many state governments offer additional subsidies for purchasing E-vehicles.
● Waived registration fees: Many states have waived the registration fees.
● Exemptions from road tax: Many states offer exemptions for electric vehicles.
Return on investment
The return on investment (ROI) can be significant. The ROI will vary depending on the upfront cost of the vehicle, the cost of electricity, and the government incentives available.
To calculate the ROI, we will use the following example:
● The upfront cost of the vehicle: Rs. 1 lakh
● Cost of electricity: Rs. 1.20 per km
● Government incentives: Rs. 25,000
Assuming that the vehicle is driven for 100 km per day, the annual cost of operating the vehicle will be:
● Cost of electricity: Rs. 1.20 x 100 km x 365 days = Rs. 43,800
● Annual cost of ownership: Rs. 43,800 - Rs. 25,000 = Rs. 18,800
The ROI will be:
● ROI = (Savings per year / Upfront cost) x 100
● ROI = (Rs. 18,800 / Rs. 1 lakh) x 100 = 19%
This means that the investment will be recouped within 5 years.
OTHER BENEFITS OF OWNING AN ELECTRIC TWO-WHEELER
In addition to the economic benefits, there are several other benefits, including:
● Reduced emissions: It produces zero emissions, which helps to reduce air pollution.
● Lower maintenance: It has fewer moving parts than gasoline-powered vehicles, requiring less maintenance.
● Quieter operation: They are much quieter than gasoline-powered vehicles.
● Environmental benefits: It helps to reduce our reliance on fossil fuels & protect the environment.
The Economics of owning an electric two-wheeler in India are very attractive. It offers lower operating costs, reduced emissions, and government incentives. The ROI for owning it is also significant.
In addition to the economic benefits, there are several other benefits to owning it, including reduced emissions, lower maintenance, quieter operation, and environmental benefits.
COSBIKE: The Smart Way to Own an Electric Two-Wheeler
They offer a wide range of E-scooters, making it easy to get started with your purchase.
COSBIKE also offers several features that make our electric two-wheelers the best choice for Indian riders:
● Smart features: COSBIKE has several smart features, such as GPS tracking, keyless start, and anti-theft protection.
● Long range: COSBIKE has a long range, so you can ride further without worrying about running out of battery.
● Powerful motor: COSBIKE has powerful motors that can easily handle the demands of Indian traffic.
● Easy maintenance: COSBIKE is very low maintenance, so you can spend less on maintenance and more time riding.
COSBIKE: The Future of Transportation
If you want a smart, affordable, and environmentally friendly way to get around, then a COSBIKE is the perfect choice.
Visit our website today to learn more about our cosbike and to find a dealer near you.
-
Coming SoonLexel
Upcoming
