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I agree with everyone that Electric Vehicles (EVs) have a lot of benefits. But is saving money really one of them? Let's talk about that. Today, we're going to discuss the hidden costs of EV ownership.
A Realistic Look
Electric Vehicles (EVs) promise cleaner transport and a modern driving experience, but are they really saving you money? Let’s look beneath the surface and examine the real costs, especially in India.
Home Charging:
The First Expense
When you buy an EV, you’re often given two options for a home charger: typically a 3.2 kW or 7.2 kW AC charger. Contrary to what many believe, the higher-capacity 7.2 kW charger isn’t usually free—it’ll cost you an additional ₹50,000–₹1,50,000 depending on the charger and installation complexity. While a 3.2 kW charger might take 10-12 hours to fully charge your car, a 7.2 kW setup reduces this to 6-8 hours. Most buyers opt for the quicker alternative, but it comes at a notable price.
Sanctioned Load Upgrades and Installation Headaches
Indian apartments usually have a low sanctioned power load (typically 4–8 kW)—insufficient for faster charging. Upgrading your home’s sanctioned load for EV charging means paying your electricity board, buying a new meter, arranging new wiring, and sometimes greasing a few palms due to bureaucracy. Application processing, meter installation, and charger installation alone can easily add ₹10,000–₹60,000, plus ₹500 per meter for wiring beyond the basic distance.
Society NOC requirements and extra wiring for flats can create further costs, from obtaining permissions to paying for routing cables through shared spaces. These costs often reach ₹5,000–₹30,000, especially if you live far from a ground-level meter.
Public Charging Is Not Cheap
If your home setup isn’t ready, public charging stations are an option—but a pricey one. At public stations in India, charging rates typically range between ₹10–₹19 per kWh. For a car with a 40 kWh battery, you’ll spend ₹600–₹800 per full charge, a sum that quickly snowballs if you charge often or take frequent trips. Additionally, each provider has its own app; you’ll need wallets with minimum balances, locking away your money in several platforms.
Battery Replacement: The Elephant in the Room
All batteries degrade over time—faster if consistently charged at public fast stations. Battery replacement in India remains one of the most expensive maintenance tasks for EV owners. Depending on your car model and battery size, expect to pay anywhere from ₹3,50,000 for a Tata Nexon EV to upwards of ₹8,50,000 for higher-end models like the MG ZS EV or Hyundai Kona Electric. Premium EVs can go well over ₹10 lakh. As battery prices fall, costs may decrease in coming years, but as of 2025, it’s still a major financial hurdle.
Weather Hurts Your Range
Cold weather saps range considerably due to the physics of battery chemistry. Expect reduced driving distance during winters—a phenomenon every EV owner must plan for.
Insurance: Premium Over Petrol
Because EVs are costlier and repairs are specialized, insurance premiums are higher than for ICE cars. You’ll pay a significant extra amount yearly, solely because your on-paper car cost is greater.
Repairs, Service, and Depreciation
After warranty expiration, finding certified EV technicians can be tough. Repairs involving specialized electronic components such as ECUs are 20–25% more expensive than comparable ICE parts. Long service times are common if diagnosis is complex.
Depreciation hits EVs harder; a used EV with 100,000 km struggles to fetch fair resale value. Buyers worry about remaining battery life and expensive component replacements. Discounts of 30–40% off new price are common in resale negotiations.
Subscription Software Charges
Car companies increasingly lock digital features behind monthly/yearly subscriptions. Media apps, connected car services, and even some performance upgrades may require ongoing payments, making ownership less straightforward.
Time Is Money: Charging Takes Time
Long-distance journeys are burdened by charging stops—30 minutes to an hour per session. Trip planning must account for charging time, making travel slower than with petrol or diesel.
Tax and Policy Uncertainty
Currently, many states (like Maharashtra) have waived road tax for EVs—a definite benefit. However, this is a policy, not a guarantee; if the rule changes, you could face additional costs.
Final Thought:
EVs deliver many benefits, especially for the environment, but real savings only start to appear after years on the road. Hidden infrastructure, maintenance, and operational costs often surprise first-time buyers. Make sure you do the full math before switching—and share your EV ownership experiences so others can make informed choices.
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