You see the future is electric, but your wallet is asking a very practical question: “Is it actually cheaper?” With rising fuel prices and attractive EV options, it’s time to move beyond guesswork.
The short answer is yes, an EV will almost certainly save you a significant amount of money over 5 years. But how much? Let’s transform this article into your personal EV savings calculator India.
We’ll break down the costs in a detailed 5-year analysis, comparing an electric car to its petrol, diesel, and CNG counterparts.
The Core of the Calculation: Running Cost
This is where EVs deliver their knockout punch. The cost to “fuel” an electric vehicle is substantially lower.
Let’s use a practical EV vs petrol calculator India example:
- Petrol Car: Assume a fuel efficiency of 15 km/l. With petrol at ₹105/litre, the cost per km is ₹105 / 15 = ₹7 per km.
- Electric Car: Assume an efficiency of 5 km/kWh. With home charging at ₹8/kWh, the cost per km is ₹8 / 5 = ₹1.6 per km.
Running Cost per km: EV wins by a huge margin.
Now, let’s scale this up. If you drive 1,500 km per month (18,000 km per year):
- Annual Petrol Cost: 18,000 km * ₹7/km = ₹126,000
- Annual EV Charging Cost: 18,000 km * ₹1.6/km = ₹28,800
Annual Running Savings with EV: ₹126,000 – ₹28,800 = ₹97,200
That’s nearly ₹1 lakh saved every year, just on fuel! Over 5 years, that’s a staggering ₹4,86,000 in running cost savings alone.
Beyond Petrol: EV vs Diesel & CNG
A comprehensive electric car savings calculator must account for other fuels.
EV vs Diesel Running Cost Calculator:
- Diesel Car (20 km/l, ₹95/litre): ₹95 / 20 = ₹4.75 per km.
- Annual Cost (18,000 km): ₹85,500.
- EV Annual Savings vs Diesel: ₹85,500 – ₹28,800 = ₹56,700.
- 5-Year Savings: ₹2,83,500.
EV vs CNG Calculator India:
- CNG Car (25 km/kg, ₹80/kg): ₹80 / 25 = ₹3.2 per km.
- Annual Cost (18,000 km): ₹57,600.
- EV Annual Savings vs CNG: ₹57,600 – ₹28,800 = ₹28,800.
- 5-Year Savings: ₹1,44,000.
Even against the most economical fossil fuels, the EV maintains a clear financial advantage in running costs.
The Other Side of the Ledger: Maintenance & Insurance
Maintenance: The EV’s Second Win
Electric vehicles have far fewer moving parts—no engine oil, spark plugs, fuel filters, or complex gearboxes. This translates to dramatically lower maintenance costs.
- Petrol/Diesel Car: Average annual maintenance can be ₹8,000 – ₹15,000, rising as the car ages.
- Electric Car: Annual maintenance is typically 30-50% lower. We’ll use a conservative estimate of ₹6,000 per year.
Annual Maintenance Savings with EV: ~₹6,000
5-Year Maintenance Savings: ~₹30,000
Insurance: A Slight Drawback
EV insurance can be 10-15% higher due to the higher cost of battery packs and specialized repairs.
- Additional Annual Cost for EV: Let’s estimate ₹3,000 more per year.
- 5-Year Additional Insurance Cost: ₹15,000
The Big Picture: 5-Year Total Cost of Ownership
Let’s bring it all together. We’ll compare a hypothetical ₹15 lakh petrol car with a ₹15 lakh electric car.
| Cost Component | Petrol Car (5 Years) | Electric Car (5 Years) | Difference |
| Purchase Price | ₹15,00,000 | ₹15,00,000 | ₹0 |
| Fuel (Running Cost) | ₹6,30,000 | ₹1,44,000 | EV Saves ₹4,86,000 |
| Maintenance | ₹60,000 | ₹30,000 | EV Saves ₹30,000 |
| Insurance | ₹75,000 | ₹90,000 | Petrol Saves ₹15,000 |
| **Total 5-Year Cost | ₹22,65,000 | ₹17,64,000 | EV Saves ₹5,01,000 |
The Verdict: After 5 years, the EV owner saves over ₹5 lakh compared to the petrol car owner.
The Game Changer: Upfront Subsidies
Our calculation assumed equal purchase prices. But in India, state and central subsidies (like FAME II) can significantly lower the EV’s initial cost.
If a ₹3 lakh subsidy is applied, the equation becomes even more lopsided:
- EV Effective Purchase Price: ₹12,00,000
- New Total 5-Year EV Cost: ₹12,00,000 + ₹1,44,000 + ₹30,000 + ₹90,000 = ₹14,64,000
- Total Savings vs Petrol: ₹22,65,000 – ₹14,64,000 = ₹8,01,000
That’s Eight Lakh Rupees saved in 5 years.
Creating Your Own EV vs Petrol Calculator Excel
The numbers above are estimates. Your savings depend on your personal driving patterns. To get a precise figure, create your own EV vs petrol calculator Excel sheet with these columns:
- Your Monthly Driving (km)
- Local Petrol/Electricity/CNG/Diesel Price
- Your Car’s Fuel Efficiency (km/l or km/kWh)
- Annual Maintenance Estimate
- Insurance Quote Difference
- Available Subsidies on the EV
Plug in your numbers, project it over 5 years, and you’ll have your personalized EV running cost calculator India.
Conclusion: The Financial Case is Clear
So, will an EV save you money after 5 years? The detailed calculation leaves no room for doubt: Yes, emphatically.
While the upfront price might seem high, the massive savings in running costs and maintenance not only bridge the gap but lead to substantial net savings within a few years. The higher your mileage, the faster you break even and the more you save. When you factor in government incentives, the financial argument for switching to electric becomes overwhelmingly strong.
It’s not just a greener choice for the planet; it’s a smarter choice for your finances.
Frequently Asked Questions (FAQs)
Q1: At what monthly mileage does an EV start to make financial sense?
Using an EV vs petrol cost calculator, you’ll find that even at a modest 1,000 km per month, the annual fuel savings are around ₹65,000. For most buyers, this makes an EV financially sensible within 2-4 years of ownership.
Q2: Is the EV battery replacement cost included in this 5-year calculation?
No, because most reputable EV manufacturers offer a battery warranty of 6-8 years. Over a 5-year ownership period, the risk of a full battery failure is extremely low, so the cost is not a factor in this initial calculation.
Q3: Where can I find a ready-made EV savings calculator India?
Many automotive websites and EV manufacturers like Tata Motors or MG Motor have online electric car savings calculator tools. You can also easily build your own EV vs petrol calculator Excel sheet using the framework provided in this article.
Q4: How does an EV compare to a CNG car in the long run?
As our EV vs CNG calculator India section showed, an EV still saves money, though the gap is smaller than with petrol. The EV offers a more convenient experience (no waiting in CNG lines) and better performance, making it a superior choice for many, despite CNG’s low running cost.
Q5: Do these calculations account for public charging costs?
This analysis primarily uses home charging rates. If you use fast public chargers frequently (costing ₹15-18/kWh), your running cost will increase, reducing (but not eliminating) your savings. A hybrid of home and public charging still results in significant overall savings.