Tentative Ownership Cost Calculator (EV V/S ICE Vehicles) for Home Charging

S.No Particulars Units

User to enter required value

1 Select ICE vehicle segment ICE2W

*Internal Combustion Engine (ICE)

2 Select EV vehicle segment EV2W

*Electric Vehicle (EV)

3 Select Ownership Type Private (Self-Owned)

4 Select ICE Vehicle model Honda Activa 6G

5 Cost of ICE Vehicle selected (Sr. No. 1)

*This is the average cost of vehicle in the metro cities in India. Cost INR 81,348
may vary from city to city

6 Mileage of ICE vehicle selected kmpl 55

7 Select Electric Vehicle model Ather 450+

8 Cost of EV Vehicle selected (Sr. No.2)

*This is the average value of metro cities in India. Cost may vary from INR 138,185
city to city

9 Upfront subsidy under FAME India Phase II Scheme

*As notified by Ministry of Heavy Industries and Public Enterprises
INR 27,000
Subsidy is applicable for Electric Vehicles only.
Privately owned e-4W is not applicable for subsidy under this scheme

10 State level subisdy INR

*As per applicable EV policy of the State/UT

11 Actual cost of Electric Vehicle (including subsidy at Sr. no. 9 & 10) INR 111,185

12 Battery Capacity kWh 2.7

*As declared by Ministry of Heavy Industries and Public Enterprises

13 Vehicle Range KM 105

*As declared by Ministry of Heavy Industries and Public Enterprises

14 Select state Delhi

15 Fuel cost for ICE Vehicle

INR 84
*Enter the applicable fuel cost for state selected at Sr. no. 14

16 EV home charging tariff (As per State Tariff Order) INR/kWh 4.5
*As notified wide State Electricity Regulatory Commission

17 Per day distance travelled KM 50

 Total Cost of Ownership

ICE EV

Cost per km (across 10 years lifetime) 3.10 1.24

Electric Vehicle is cheaper to own over 10 years

EV 1.24

ICE 3.10

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50

Cost per km (INR/Km) (across 10 years lifetime)

Cos t B re akdown in IN R (Es ti mate d Operati onal Cos t over 10 Ye ars )

Fuel Insurance Maintenance Battery replacement
450,000

- 394,203
400,000

98,108
350,000

300,000 7,948

250,000

200,000

150,000 288,148

100,000 85,772
40,500 12,578
50,000

- 10,863 21,832

ICE EV

Disclaimer:
The above estimates assume typical cycle life, battery & vehicle cost, loan tenure, interest rate, insurance and O&M costs. However, the actual figures may
vary depending on the type of model and usage pattern, etc.

The above model is based on 100% home charging

 Assumptions for TCO calculations
General Parameters
Parameter Value Unit
Lifecycle of Vehicle 10 years
Source As per comments from EESL & NTPC
Lifecycle of Battery 5 years
Cost of Battery 20,000 INR/kWh

Financial Parameters
Parameter Value Unit
Loan Tenure 5 years
Rate of Interest 11% pa
Equity 20%
Debt 80%
Insurance Amount 1.5% pa Of the depreciated amount
Maintenance Cost ICE 0.52 per Km Source https://www.rentomojo.com/blog/total-cost-of-ownership-bikes/
Depreciation of Vehicles 10% pa
Discount Factor 11%
Maintenance Cost EV per year 1000 INR Source https://www.pluginindia.com/ebikessavings.html

Operational Parameters
Parameter Value Unit
Operational Days in a year 300 days
Months in a Year 12 months
Distance travelled per day 50 kms
Home Charging/ EV Tariff 4.5 INR/kWh https://www.aeee.in/wp-content/uploads/2020/01/thought-leadership.pdf
EV Public Charging 15 INR/kWh Source https://www.pluginindia.com/charging.html
YoY escalation 5% https://economictimes.indiatimes.com/wealth/fuel-price/petrol
Cost of Petrol 84 INR/Litre
ICE
YoY escalation 5%