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The Economics of Going Electric: Cost Benefits of Choosing OLA Electric Vehicles
With the world shifting towards sustainable energy solutions, the need to move towards
electric vehicles
is increasing dramatically. With this change, electric vehicles offer both environmental and economic advantages, directly impacting consumers. Ola Electric is one of the leading players in the Indian EV market, offering an array of electric scooters that personify this change. Ola Electric is a leading Indian EV maker that has turned the tables in the Indian electric two-wheeler market. The blog talks about the cost benefits that come as an incentive when one chooses Ola electric vehicles and gives an overall analysis of the economic advantages associated with the vehicle.Initial Investment and Purchase Incentives
While the upfront cost is certainly one of the most important factors in purchasing an electric vehicle, it has often tended to be marginally higher than that of traditional gasoline-powered scooters. But in the long run, it is definitely a pocket-friendly decision. Because the running costs of electric scooters are much lower than those of petrol scooters. For example, when you buy an
Ola S1 X
+ the running cost will be Rs.315/month (considering you travel 50km/day and electricity is Rs. 7/unit), otherwise in your regular traditional ICE vehicle will cost you up to Rs. 2850/month. In addition to this, government incentives and subsidies, however, do dramatically reduce this gap for electric scooters, including those offered by Ola. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme provides large subsidies to EV buyers in India, slashing the effective purchase price of an Ola Scooter.Battery Life and Replacement Costs
Battery technology is viewed as the most critical part of an EV, and with that comes concerns about battery life and the associated replacement cost, these concerns are quite common among potential buyers. Branded lithium-ion batteries would endorse Ola Electric scooters with long life. The company provides warranties and assurances on battery performance that enhance consumer confidence. Ola provides a Warranty on a battery pack for 8 years or 80,000 km, whichever comes first. However, the business also offers the option to extend this warranty to 1,00,000 and 1,25,000 km for ₹5,999 + GST and ₹12,999 + GST, respectively, if you ride a lot more than that.
Charging Infrastructure
With electric vehicles taking up so much of the market, a strong charging infrastructure is a must-have requirement. For this reason, Ola Electric has invested heavily in the development of a comprehensive charging network called the
Ola Hypercharger Network
. This ensures that the owners of its scooters conveniently get access to fast-charging stations across both urban and semi-urban areas. The cost of charging an Ola electric scooter at a public charging station is approximately ₹15 per kWh. Given that the Ola S1 X+ has a battery capacity of 3 kWh, the cost to charge is around ₹75. This vast charging infrastructure ensures that range anxiety is very minimal, while the cost benefits of owning an EV are maximized.Conclusion
The economic benefits of choosing an