Two-wheelers are one of the fastest-growing segments in India’s electric vehicle market. The popularity of electric scooters and bikes is evidence of their pivotal role in shaping the future of sustainable mobility. However, the ‘petrol vs electric two-wheeler’ debate continues to rage, as many consumers wonder whether electric bikes in India are really cheaper than petrol bikes in the long run.
To put this debate to rest, in this article, we will conduct a comprehensive cost and performance comparison between EV bikes and petrol bikes in India.
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EV vs. Petrol Bikes in India: The Cost Landscape
We know India is one of the world’s largest markets for two-wheelers. Millions of Indians do find petrol bikes and scooters to be an affordable option for their daily commutes and work. Petrol scooters are much more fuel-efficient than cars and larger vehicles and many models are priced within the reach of the average urban user.
Having said that, the ownership cost of a petrol two-wheeler over five years works out to be quite high (and keep reading this article to know how much!). The biggest reason for that is fuel prices. At roughly Rs 102 per litre in major metros, petrol prices in India are at an all-time high. The ownership cost notwithstanding, these vehicles are also more polluting than EVs, and thus, not the most sustainable option for urban trips.
Electric Bikes vs Petrol Bikes: Making the Right Choice.
But don’t take our word for it. Let’s compare the 5-year cost of using a petrol two-wheeler, with that of a higher-speed electric scooter, as well as with Yulu’s eco-friendly EV, the Yulu Wynn.
Cost of a petrol 2-wheeler:
For this comparison, we have considered an average 110 cc electric scooter and worked out the approximate costs on multiple fronts like fuel, loan EMI, insurance and maintenance.
Here are some major costs associated with a petrol bike:-
- Vehicle Price: The average on-road price of a petrol two-wheeler is just under Rs 97,000. We have assumed a down payment of Rs 15,000 and the rest of the amount will be a loan paid off via equated monthly instalments (EMIs).
- Loan interest: We have worked out the cost of a 24-month EMI at an interest rate of 10% per annum.
- Fuel Expenses: We have assumed that the rider covers 600 km in a month. With petrol priced at Rs102 per litre (at a mileage of 50 kilometres per litre), a typical petrol-based two-wheeler’s monthly fuel expenses can be substantial.
Based on the above, we can work out the approximate post-down payment ownership costs for five years as follows:
- EMI at 10% interest (total amount for 2 years) – Rs 90,624
- Fuel cost (over 5 years) – Rs 73,440
- Third-party insurance (over 5 years) – Rs 4,000
- Maintenance (over 5 years) – Rs 8,640
Total cost: Rs 1,76,704.
(Source of EMI figure: BikeDekho calculator. Source of insurance EMI: Average premium from multiple insurer websites. Source of maintenance cost: Droom TCO calculator)
It is, thus, reasonable to assume that a petrol two-wheeler, which costs Rs97,000, will cost you Rs1,77,000 over five years (at current fuel rates). Please note that we haven’t included the spending on spare parts and accessories—which can be a significant part of the ownership cost structure—as these vary from company to company.
2. Cost of an Electric Scooter
Here are the costs associated with an electric scooter. For this comparison, we have used the example of a 3kwh scooter.
Price: We have taken the example of an electric scooter with an on-road price of Rs 118,000. As in the previous case, we have assumed a down payment of Rs 15,000. The rest of the amount will be financed through a two-year loan at 10% interest.
Here are the 5-year (post-down payment) costs:
- EMI at 10% interest (total amount for 2 years) – Rs 114,480
- Fuel cost (over 5 years) – Nil
- Charging cost: Rs 9,000
- Insurance (over 5 years) – Rs 17,500
- Maintenance (over 5 years) – Rs 5,000
Total cost: Rs 145,980
(Source of EMI figure: BikeDekho calculator. Source of insurance EMI: Average premium from multiple insurer websites. Source of maintenance cost: Market estimates)
Based on our assumptions, an electric scooter works out cheaper than an ICE vehicle over five years, at an approximate cost of 146,000. Once again, we have not included spare parts and accessories in the calculation.
3. Yulu Wynn: A Sustainable Ownership Experience
Now let’s come to the final vehicle in our comparison – the Yulu Wynn. Let’s see how it stacks up against the rest of the vehicles!
- Vehicle Price: After the initial period, Yulu Wynn is available for INR 55,555, representing a cost-effective option for eco-conscious individuals.
- Battery subscription cost: The Yulu Wynn comes with a swappable battery. You can choose a flexible battery-swapping subscription plan as per your travel needs. A mobility pack of Rs699, for instance, covers your battery-swapping needs for a distance of 600km.
- Riding range: A Yulu Wynn’s range on a single charge is 55 km.
We can elucidate from the above data that if the Yulu Wynn runs the same distance as its petrol counterparts, these would be the ownership costs over five years, excluding the down payment:
- EMI at 10% interest (total for two years): Rs50,352
- Mobility pack costs (over 5 years): Rs 41,940
- Maintenance cost (5 years): Rs 3000
- Insurance premium: Nil (Insurance is not mandatory for low-speed EVs)
Total cost: Rs 95,292
(Sources for data: Bike Dekho EMI calculator; Yulu Wynn)
Thus, a Yulu Wynn whose on-road price is around Rs60,000, will cost you about Rs 95,000 over five years, thanks to its low charging and maintenance costs.
Therefore, by opting for Yulu’s eco-friendly solutions, you can save significantly on your overall ownership cost.
Advantages of Buying a Compact E2W
Here are some additional merits to consider getting a compact EV:
- Environmental Sustainability and Urban Mobility Solution: Choosing a Yulu EV contributes to environmental sustainability, producing zero tailpipe emissions and reducing pollution and the carbon footprint.
- Easy to ride: The Yulu Wynn is a classic example of easy mobility. Its compact size and light weight make it easy to manoeuvre, and you can control the bike and see all your vehicle-related information using the user-friendly mobile app.
- Noise Reduction: EVs are remarkably quieter than their petrol or diesel counterparts. This leads to a more peaceful and pleasant urban environment.
- Charging Convenience: Yulu provides you access to convenient swapping stations and also the option of a portable home charger so that you never have to wait in queue at a petrol pump again.
- Innovative Technology: Yulu’s electric vehicles are equipped with smart technology features such as GPS tracking, app-based vehicle unlocking and locking, IoT sensors for over-the-air software upgrades, and kilometre-based mobility packs, to name a few.
Yulu: Your Sustainable Mobility Solution
Yulu is dedicated to simplifying your transportation needs, providing efficient and easy access to sustainable solutions. Embrace the electric revolution now, and journey toward a more eco-friendly and promising future of commuting and urban mobility.
FAQs:
Q1: How much can I save on fuel costs with an electric two-wheeler?
A: Battery swapping costs for electric two-wheelers are significantly lower than the petrol refuelling costs for two-wheelers.
Q2: Are Yulu’s electric bikes available in all cities in India?
A: Yulu’s services are expanding, and they are available in many major Indian cities. Check Yulu app for the vehicle availability details in your area.
Ride the future of mobility, today! Download the Yulu app below.