Major savings of Electric Vehicles

We live in an era of high inflation, and high costs for all items, and this stretches the resources for all middle-class families.

People spend most of their income on EMIs for vehicles, houses, education, gadgets, accessories, etc.; their leftover amount will be spent on groceries, bills, mutual investments, and other necessities. Talking about investment, the term holds emotions that signify the future. We invest only in things with the intent that they will last longer and provide us with greater ROI. We also expect the maintenance of the would-be reasonable.

Typically, we classify an item that provides an ROI as an investment. In the case of a personal vehicle, it is usually termed as a liability, but in the current times, a personal vehicle is indispensable. So, we take extreme care when we purchase one. We test drive them to understand the vehicle from a variety of angles - Comfort, Suitable for the family, mileage, maintenance costs, etc. Based on the above factors and our available budget, we make a purchase. Considering the options that are in front of us, the fuel bill brings an enormous burden on families. Currently, with the advent of electric vehicles, this is one worry that can be forever removed from the minds of the families. Aside from that, it is also very sustainable and environmentally friendly.

Here we present you with the top 10 factors an electric vehicle could effortlessly do; let us take a quick look at it.

Financial Savings

1. Road tax exemption for Electric Vehicle Owners.
2. Low maintenance cost since there are lesser moving parts.
3. Registration fee exemption
4. Tax deductions of up to ₹1,50,000 on interest paid on loan amount on the purchase of an electric vehicle under section 80EEB.
5. Charging cost for an electric vehicle is less than the fuel cost.

Environmental Savings

1. No emission of hazardous gases like nitrogen and sulphur oxides.
2. Electric motors in electric cars & 2 wheelers work silently
3. No noise pollution
4. No air pollution
5. In addition, the lithium battery in EVs can be consumed and charged continuously without impacting air pollution.
6. Electric cars, electric buses & electric 2-wheelers will be the future of transportation which will save the holistic environment.