Every day, more and more people switch to electric vehicles or EVs as private transport or availing public transportation for commutation. The skyrocketing fuel prices in India are indirectly incentivizing individuals to switch to cheaper options. Also, rising pollution is a key concern and has made individuals realise that ICE or Internal Combustion Engine vehicles contribute to it largely. The need of the hour is cleaner energy to save up the environment without a dent in our purses.
Five reasons we should buy an electric scooter are listed below.
An electric scooter takes up to a maximum of 3-3.5 units of electricity per charge, which accounts for Rs. 30-35 for a single charge compared to the petrol cost for petrol scooters, which is over Rs. 100 a litre, making the everyday cost difference substantial.
A slow-speed electric scooter costs around Rs. 50,000 and a high-speed electric scooter can cost Rs. 1,00,000 and above, making them expensive alternatives to ICE scooters. However, electric scooters outweigh ICE scooters regarding registration, tax, and maintenance costs.
- Tax Benefits and Subsidies
The two-wheeler market is booming in India, and hence, the financing options for electric scooters are increasing. Obtaining a two-wheeler loan has become hassle-free, as applications are now available online and offline. With two wheeler loan interest rates around 10%, owning a two-wheeler is more affordable. Also, as per section 80EEB, there are tax benefits of up to Rs. 1,50,000 on the interest paid on loan taken towards the purchase of an EV. You can calculate the loan EMI using a bike loan EMI calculator and check your two-wheeler loan eligibility online.
With the Indian government pushing for EV sales, the state governments are providing incentives and subsidies to purchase and manufacture EVs. Currently, Gujarat is the most affordable market for EVs in India.
There are currently two kinds of electric scooters available in the market – slow-speed and high-speed scooters. The slow-speed ones are ideal for day-to-day commute and give a range of about 50-70 km on a single full charge, whereas the high-speed scooters are for long-distance travel. They offer a range of 120-200 km. The Indian market, at present, has electric scooters offering a range of 50-150 km on a single charge.
Electric Scooters are known for their convenience. Their batteries can be charged in the owner’s home overnight or even in the office as they are similar to how we charge phones, laptops, etc. Some scooters also offer detachable batteries for better ease. Also, public charging stations offer fast charging to recharge in lesser time mid-commute if necessary. Most electric scooters do not require registration or even a driving license, making them accessible to a larger range of the population.
- Environment Friendly
One of the most significant benefits of electric scooters is they are emission-free. These scooters emit 50% lesser carbon gasses owing to their efficient electric motors. Every electric scooter offers a noiseless, vibration-free ride. Also, solar power can be used as an alternative to charging up batteries. We can drive without the guilt of harming the environment more and contributing to the climate crisis.
In conclusion, we can say the pros of owning an electric scooter outweigh ICE vehicles. With the global awareness for saving the environment, most governments are pushing for EVs to substitute the ICE ones to facilitate carbon-emission reductions. Also, the upward-rising curve of fuel prices has increased the demand for EVs. The EVs prove their effectiveness with each passing day, especially the electric scooter. The market is growing rapidly for EVs in India.
As of 2020- 2021, the EV market sale is 1.3% of the total vehicles sold in India in the fiscal year. With easier access to two-wheeler loans and the tax benefits, purchasing an electric vehicle financed by a loan does not burden the individual.