India ranks third in world’s cheapest EV charging: Study

Electric vehicles

The study examined the cost of charging the most recent Hyundai Kona EV in 50 nations and rated them according to the price of energy used per 100 kilometres of driving. It also computed how much money a person would save on fuel if they switched from an ICE vehicle to an EV

India stands third in EV running cost

According to the study, the cost of completely charging the Kona EV in India is Rs 231, placing it third overall after Argentina and Malaysia, which cost Rs 113 and Rs 157, respectively. The United Arab Emirates, Vietnam, China, and Turkey were the nations that came after us in offering inexpensive EV charging rates.

The most costly nations, on the other hand, were Denmark and Italy, where a full charge for a Hyundai Kona EV costs Rs 1,823. The Netherlands, Germany, Belgium, Lithuania, and Austria (tied for fourth), and these nations were the most costly for EV charging.

The study also found that, of all the countries it examined, charging an electric vehicle tended to be more expensive in Asia than in Europe.

According to the study, driving an EV in India costs Rs 76 in power expenses per 100 km, compared to Rs 647 in petrol prices for a comparable automobile. Driving an EV instead of a petrol vehicle in India can therefore result in a savings of 88.26% on one's prospective fuel expense. Furthermore, among all the countries considered, the savings % was the second-best result.

The study also found that due to the greatest price disparity between electricity and fuel, Norway and Iceland claim the most net savings when comparing battery charging to petrol filling. In both countries, one may save more than Rs 8,318 for every refill or recharge. Italy, on the other hand, was the country where one saves the least per mile relative to the cost of fuel.

For every 100 kilometres driven, EVs cost an average of Rs 267 to charge, compared to Rs 763 for a fuel equivalent across all investigated countries. As a result, refilling an identical petrol vehicle costs just around one-third of what it does to charge an EV. The study demonstrates that the operating cost reductions vary greatly depending on the nation and the price differential between gasoline and electricity, with EV drivers saving anywhere between 27.63 per cent and 92.59 per cent of their fuel expenditure every km (compared to an identical petrol vehicle).

Research Methodology

The most recent Hyundai Kona model was the vehicle utilised to evaluate operating expenses. It was chosen for a comparable foundation of comparison since it is available in both petrol and electric varieties, the latter of which has even been on sale in India in its previous-gen appearance. The petrol version featured a 148hp, 2.0-litre, four-cylinder petrol engine with a 50-litre fuel tank, while the electric version had a 39.2kWh battery with 136hp of power (the same as the India-spec vehicle).

Please be aware that operating expenses were estimated based on stated fuel economy and range estimates, and that actual costs and differences may change depending on actual operating circumstances. Additionally, GlobalPetrolPrices.com was used to obtain the most recent publicly accessible data for both measures (September 2022) for the fuel and power price data.