Today, choosing an electric car or an electric bike over a petrol or diesel vehicle is, in a phrase - a no brainer. We are all aware of the unpredictable fuel prices, and while there is some respite now, it will only be a matter of time before the prices go up again. It all boils down to this – you, the consumer, can either cut corners or opt for a better, more viable solution. Let's take a closer look and see why the electric vehicle comes out as the clear winner in this ongoing debate.
We're not out of the woods yet, with this global pandemic which resulted in people losing their jobs, working on half their salaries, and dealing with several other financial and health issues. The sharp and unending hike in fuel prices was the proverbial' last straw'. Enter the EV. It brought with a promise and a solution to this problem. Vehicles such as an electric bike or electric car promote not only ease of commute but do so at a marginal cost compared to ICE vehicles. That in itself is a big 'yes.'
The EV market in India is an opportunity worth billions of dollars wherein 2, 3, and 4-wheelers are driving the impetus. In some cases of low-end electric vehicles, the cost of ownership is already lower than internal combustion engine vehicles. With such a market dynamic in play, EVs are bound to contribute significantly to the transport industry in our country, and soon.
EVs are known to have a high upfront cost. That is to only look at a small part of the picture. Take a whole-life cost approach to owning, operating, and maintaining an electric bike compared to a petrol or diesel vehicle, and you'll see significant savings. Charging your car or bike with electricity is cheaper than filling it up with petrol or diesel.
Now, let's touch upon the most critical aspect of owning an EV – its numerous benefits to the environment. Yes, an electric vehicle is more than a mere boon to the environment. What started as a passing craze about wanting to 'go green' has gained momentum. People are becoming more conscious and conscientious towards the environment, and the EV has jumped on this bandwagon. There are more green licence plates on the streets, there are numerous new electric vehicle brands and EV dealerships in the country, and it will only be a matter of time before we can make a significant difference in tackling the climate crisis at hand.
You may ask the question – isn't there a flipside to EV charging as most vehicles draw charge from climate-damaging thermal energy? But that, too, is changing, and quickly. Solar-powered charging will soon become the norm, and the energy source used - natural and renewable. Globally and even in India, such infrastructure exists and is being developed on a larger scale.
For the environment-conscious, electric vehicles symbolize their commitment to the planet, sustainability, and fossil fuel independence. For some, they've become a style statement. For others, they're a promising option for a more economical commute. But at the end of the day, the EV represents our collective existence on the planet and how it's up to us to use it in the most responsible way we can.
People, businesses, governments, institutions, and non-profits across the globe have united to tackle our climate issues. In India, too, the central government and the state governments are doing all they can to promote EVs. FAME 1 and 2 are a case in point. Today, with increased subsidy, EVs are riding a crest and the wave is a mile-long.
The moment we realise we're in this together is the moment we can genuinely work towards reaching our green goals and your electric car or electric bike is the first and most crucial step towards that.