Save Money, Go Electric!

This is a cost comparison between a TVS XL worth Rs. 27,000 and an Electric Bicycle worth Rs. 45,000 over a period of 6 years. You will see how much money you can save by switching to electric transport, even though the electric bicycle costs more initially.

TVS Moped

We assume in this example  that you buy a 27,000 Rs TVS Moped with 35 km/L mileage and  ride it an average of 20 km per day. We also assume that the price of petrol will remain stable at 85 Rs/L (local price including oil).

If your vehicle has different parameters, you can adjust for your specific case (i.e. more or less km per day, different vehicle price, different mileage, different cost of oil). Calculations DO NOT include the cost of maintenance, license and insurance.

Calculation period

2 years

3 years

6 years

No of days in the period (d)

730

1095

2,190

Travel per day (km)

20

20

20

Total travel (in km) (d x km) = T

14,600

21,900

43,800

Moped mileage (in km/L) = M

35

35

35

Total petrol used (in L)
(T : M) = PU

417

626

1251

Petrol price (Rs/L) = PP

85

85

85

Total cost of petrol (in Rs) (PU x PP)

35,445

53,210

106,335

Initial cost of moped (Rs)
Moped is not replaced on years 3 and 6.

27,000

0

0

Total cost of moped + petrol (Rs)

62,445

53,210

106,335

Electric Bicycle

The example below assumes that you buy a 45,000 Rs Electric Bicycle, ride an average of 20 km/day with a 30 km/charge autonomy, that you recharge the battery every day, and that you buy a new battery every 3 years. No insurance or license required for this vehicle.

Calculation period

2 years

3 years

6 years

No of days in the period (d)

730

1,095

2,190

Travel per day (km)

20

20

20

Total travel (in km) (d x km) = T

14,600

21,900

43,800

Cost of charging (5.5 Rs/kWh)

2,007

3,011

6,022

Battery replacement at years 3 and 6

0

12,600

12,600

Total cost of electric battery+charging

2,007

15,611

18,622

Initial cost of Electric Bicycle

45,000

0

0

Total cost of e-cycle+battery+charging

47,007

15,611

18,622

SUMMARY – Cost Comparison between moped and e-cycle

 

Calculation period

2 years

3 years

6 years

Cost of moped + petrol (Rs)

62,445

53,210

106,335

Cost of e-cycle+batteries+charging
(Battery replacement at years 3 & 6)

47,007

15,611

18,622

Savings (Rs.)

15,438

37,599

87,713