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Cost, loan, tax: What to consider before buying an electric car

EVs are expensive but economical on the long run; they are likely to become more popular as charging infra improves

electric vehicles, EV
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Electric vehicles will be as affordable as petrol by 2023, says minister.

Bindisha Sarang Mumbai
The Union Minister of Road, Transport and Highways, Nitin Gadkari, declared recently that electric vehicles (EVs) would become as affordable as petrol vehicles by 2023. While only time will tell when the prices of the two types of vehicles reach parity, those planning to buy a car soon should consider the total cost of ownership, not just the initial purchase price.
 
Initial price
 
Electric cars cost more than their petrol counterparts in India. Ravi Bhatia, president and director, JATO Dynamics, an automotive research firm, says, “The ex-showroom price of electric cars is 36-40 per cent higher than that of ICE

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