To promote sustainability and embrace eco-mobility, the Indian government provides subsidies and incentives, enhancing the accessibility of EV ownership. In addition to being eco-friendly and cost-effective, there are numerous other advantages of electric vehicles. This blog lists the 7 benefits of owning an EV in India. Let’s explore!
Top Benefits of EVs in India
Check out the following benefits of electric vehicles to learn why you should consider buying this type of vehicle:
1. Enjoyable Experience When Driving
EVs offer a unique and enjoyable driving experience. Its
instant torque provides smooth yet powerful acceleration, and the
silent motor system creates a peaceful driving experience. EVs have
fewer moving parts and are easier to drive, making them less noisy
than ICE vehicles.
2. Ideal for Eco-Conscious Consumers
EVs are great for the environment as they operate on closed
circuits and have zero tailpipe emissions, leading to a
pollution-free commute and lower carbon footprint. Zero direct
emission makes electric vehicles the ideal choice for
environment-conscious consumers.
3. Prevent Hikes in Fuel Prices
Switching to an electric vehicle can protect you from rising fuel
prices. Moreover, petrol or diesel vehicles need regular maintenance
every 6 months to ensure they run smoothly. However, electric vehicles
are relatively low-maintenance and only require minimal upkeep to run
efficiently.
4. A Cost-Effective Solution
Electric vehicles offer a cost-effective solution for
transportation. Unlike Internal Combustion Engine (ICE) vehicles, they
do not require fuel, which can save you a significant amount of money
over the vehicle's lifetime. Additionally, using renewable energy
sources such as solar power to charge your EV can further reduce your
electricity bills.
5. Enjoy the Flexibility of Charging from Your
Home
With EVs, you're no longer required to go to gas
stations for refuelling your vehicle. Instead, you have the option
to conveniently charge your vehicle from any designated EV charging
space.
6. Minimal Maintenance Costs
Electric vehicles typically require less maintenance than
gasoline-powered cars because they have fewer moving parts and an
internal combustion engine. Additionally, regenerative braking extends
the life of your EV’s brakes.
Using renewable sources of energy
like solar power is also an effective way of minimising costs and
contributing positively to the environment, further promoting sustainability.
7. Government Benefits
The Indian
government has implemented a range of subsidies and incentives for
using electric vehicles. The Delhi Government offers tax incentives
of ?1.5 Lakh on the interest paid on an EV loan amount, reducing the
overall cost of ownership. Additionally, the Government of India
also offers lower GST rates on EVs, making them more affordable for consumers.
However, EVs come with a hefty price tag. An affordable solution would be to buy a pre-owned EV. To make your life even more convenient, you can opt for a Used Car Loan from Poonawalla Fincorp. How? Find out in the next section.
ALSO READ :- Electric Car or Petrol Car - Decoding the Benefits and Drawbacks
How to Get a Loan for an Pre-owned Electric Car With Poonawalla Fincorp?
With Poonawalla Fincorp, you can apply for a loan for a used electric car in under 5 minutes:
Step 1: Click the "Apply Now"
button.
Step 2: Fill out the application
form.
Step 3: Upload the required documents
and hit the ‘Submit’ button.
After successful verification, the loan amount will be immediately credited to your bank account.
To Conclude
The advantages of electric vehicles in India go beyond just saving money. With lower maintenance costs, government subsidies, and increased affordability for Indian consumers, electric vehicles have the potential to transform the Indian automobile sector entirely. Moreover, by adopting electric vehicles, Indian consumers can make a forward-looking decision that positively affects the environment and promotes sustainability.
Frequently Asked Questions
1. Will I get any tax benefit upon buying an
electric vehicle?
Yes, under section 80EEB of the
Income Tax Act, you can get a tax exemption of up to ?1.5 Lakh of
the interest paid on your principal loan amount.
2. Is EV the future?
Electric
vehicles make a positive contribution to the environment by reducing
carbon footprint and making optimal use of natural resources. With
zero tailpipe carbon dioxide emissions, EVs serve as a sustainable
choice of transport.
3. Why should I choose an EV?
Owning an electric vehicle comes with advantages such as minimal
maintenance costs, zero direct carbon emissions, government incentives
and subsidies, effortless and noiseless driving experience, and more.
4. How long does it take to charge an electric
vehicle?
You can charge your EV from the convenience
of your home or any public charging station in less than an hour by
using a Level 2 charger, while it takes 4-5 hours when you use a
Level 1 charger.
5. How long does an EV battery last?
An EV battery has a lifespan of 15 to 20 years. The long lifespan
of the battery ensures the EV stays in its optimal state.
