As India’s efforts continue to increase EV adoption, The country has secured a position among the top three nations worldwide, offering the most affordable electric vehicle (EV) charging costs.
A recent study conducted by the Australia-based aggregator, Compare the Market highlighted India’s economical EV charging infrastructure, ranking it third globally, surpassed only by Argentina and Malaysia.
The important achievement for the Indian EV sector
The study centred on the costs associated with charging the latest model of the Hyundai Kona EV in 50 different countries. It evaluated the expenses involved in powering an EV for a 100-kilometre distance and the potential savings compared to operating a vehicle with an internal combustion engine (ICE).
According to the findings, charging a Hyundai Kona EV in India costs a mere Rs 231, showcasing the country’s dedication to fostering affordable and accessible electric mobility. Argentina led the list with a cost of Rs 113, followed by Malaysia at Rs 157.
Global rankings in EV charging affordability
In the global race towards sustainable and affordable electric vehicle (EV) infrastructure, several nations are leading the way with cost-effective EV charging solutions.
Argentina tops the list as the most affordable country for EV charging, where it costs a mere Rs 113 to fully charge an EV. Following closely are Malaysia and India, where the respective costs stand at Rs 157 and Rs 231.
Additionally, the United Arab Emirates and Vietnam have made it to the top five, offering EV charging at competitive rates of Rs 247 and Rs 250, respectively, showcasing their commitment to fostering affordable electric mobility.
Conversely, Denmark and Italy were identified as the nations with the highest EV charging costs, where a full charge for the same vehicle model stands at a substantial Rs 1,823.
How it affect Indian EV users?
The research emphasized the substantial savings Indian EV users can enjoy, with electricity costs amounting to just Rs 76 per 100 kilometres, a stark contrast to the Rs 647 required for petrol in an ICE vehicle. This scenario presents a notable saving rate of 88.26%, positioning India as a leader in offering financial benefits for EV adoption.
Globally, the study illustrated that EVs, on average, cost Rs 267 to charge for a 100-kilometre journey, a figure significantly lower than the Rs 763 needed to fuel a petrol vehicle for the same distance. This data indicates that EV charging costs are roughly a third of the petrol vehicle refuelling costs.
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