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MUMBAI, 10 September 2023: As the world transitions to electric vehicles (EVs) for a sustainable future, India has emerged as one of the top three countries globally with the most affordable EV charging costs. According to research conducted by Australia-based aggregator Compare the Market, India’s cost-effective charging infrastructure places it behind only Argentina and Malaysia in terms of economical EV operation.
India’s Impressive Ranking
The research specifically focused on charging the latest-generation Hyundai Kona EV in 50 countries across the globe. These nations were assessed based on the cost of electricity required to cover a distance of 100 kilometers (km) in an EV, as well as the savings accrued by choosing an EV over a traditional internal combustion engine (ICE) vehicle.
In this comprehensive analysis, India ranked third in the world for the affordability of EV running costs. To fully charge the Hyundai Kona EV in India, it costs just INR 231. Argentina secured the top spot with a cost of INR 113, followed closely by Malaysia at INR 157. India’s ranking reflects its commitment to making electric mobility accessible and affordable.
Most Affordable Nations for EV Charging
- Argentina – INR 113
- Malaysia – INR 157
- India – INR 231
- United Arab Emirates – INR 247
- Vietnam – INR 250
- China – INR 253
- Turkey – INR 278
- Indonesia – INR 306
- Mexico – INR 313
- Republic of Korea – INR 316
Challenging the High Costs
On the other end of the spectrum, Denmark and Italy emerged as the most expensive countries for EV charging. In these nations, it costs a staggering INR 1,823 to fully charge the Hyundai Kona EV. Germany, Belgium, Lithuania, Austria, and the Netherlands also featured among the most expensive countries for EV charging.
Most Expensive Nations for EV Charging
- Denmark – INR 1,823
- Italy – INR 1,823
- Germany – INR 1,754
- Belgium – INR 1,651
- Lithuania – INR 1,582
- Austria – INR 1,582
- Netherlands – INR 1,548
- Finland – INR 1,438
- Czechia – INR 1,435
- Ireland – INR 1,341
Savings in India
The research underlines that in India, it costs just INR 76 in electricity per 100 km of driving an EV, compared to INR 647 in petrol for an equivalent ICE vehicle. This translates to an impressive 88.26 percent savings on fuel costs when opting for an EV. India’s savings rate ranks as one of the highest globally, highlighting the financial advantages of electric mobility in the country.
Global Perspective
On a global scale, the study reveals that, on average, EVs cost INR 267 to charge for every 100 km driven, whereas a petrol-powered vehicle would cost INR 763 for the same distance. This makes charging an EV approximately one-third of the cost of refueling an equivalent petrol vehicle.
Conclusion
India’s remarkable position as the third most affordable country in the world for EV charging costs is a testament to its commitment to sustainable transportation. With substantial savings potential and a growing EV infrastructure, India is poised to lead the charge towards a greener and more economical future. Explore the benefits of electric mobility in India and join the movement towards cleaner and cost-effective transportation options.
