2023’s Financial Face-off: Are EVs More Profitable Than IC Engine Vehicles?

Are EVs More Profitable Than IC Engine Vehicles? Tiago

Geeks like you have the basic question in mind. There are many factors to consider the difference between the EV and regular petrol/diesel vehicle. Following are some factors to keep in mind while defining profitability between these two. Will look in two same brand (Tiago) vehicle for comparison.

IC Engine Vehicle

Major factor in these vehicles is Engine, and it is a main and important component of the vehicle, Specification of engine calculated in Power provided by the engine, Refinement of the engine, Type of fuel need to run the vehicle Petrol /diesel. All this will sum up in the total cost of the vehicle. As power and refinement reaches perfection cost will go on exponentially.
Second factor we consider for comparison is performance in term of mileage of the vehicle and experience gives to owner. Some engine makes louder noises alike diesel, on other side some are less noisy like petrol one.

Safety a major factor in comparison, it depends on the combination of excellence in technology and material used in the cars.

Electric vehicle

Now its more challenging to bring the similar factors like above.
Here we replace the Engine with the Motor and lithium-ion battery, with provide the power to the cars with less sound and the vibration in vehicle.
Good quality of battery blend with software used can make it more efficient in term of the mileage in one charge.
One Extra factor here need to be discussed, Time to fuel it as we do not need to wait to fuel up petrol or diesel in cars, and availability of the fuel station are having grate network in 20th century. Where as it can take more time to charge depend on AC or DC charger, fast or slow charger like cell phones.

Let us do the comparison of this two with available cars on the roads of same brand and similar product name on it.

Tata Tiago Petrol vs Tata Tiago Electic

Just stick with Cost of owner ship and better value to end user.

Tiago Electric Vs Petrol AT | Price comparison 
Tiago EV xz +LRDifferenceTiago XZA+
11,04,0003,24,0007,80,000
Value in Rupees

We can not predict the resale value of electic vehicle cars as it’s a new segment

5 Year /50000 cost of ownership
 Tiago EVDifferenceTiago XZA+
Initial Cost11,04,0003,24,0007,80,000
Periodic maintenance23,000*3,30026,000*
Fuel/Electricity cost31,0002,29,0002,60,000
Total11,58,00092,00010,66,000
* Periodic maintenance consider as standard servicing cost.

Powertrain Comparison

Safety feature – EV have some more unique feature

 Tiago EVDifferenceTiago XZA+
Max. Power75 ps11ps86ps @6000 rmp
Power: weight 65ps/t23ps/t88ps/t
Torque114Nm1Nm115Nm
Mileage315 per ChargeNA19kmpl
For EV – Battery charge time: 2.6 to 3.6h at 220V

Lest check the features
There are so many common features like

  1. Projector Head Lamp, Fog lamps, Day Night IRVM
  2. Rare Defogger, rare wiper, and washer
  3. Both cars have power windows, electrical adjustable ORVMS, Auto AC, height adjustable Driver seat
Tyre pressure warning system 
Rain Sensing Wiper
Some more functional feature in EV is like – Cruise Control, Auto head lamp, multi drive modes, Telematics

Some features are with Tiago XZA + which are not in Tiago Electic

R15 Alloy wheel, Spare tire, Corner stability control

Considering the above features, the Tiago EV having upper hand than Tiago XZA+

Which is better in these two?

Considering 50, 000 km cost of ownership Tiago XZA + have more advantage over the Tiago EV, net value advantage would be 1,30,000 rupees.
Where as for 80,000 km cost of ownership will be Cost same for both the owners.
After the 90,000 and 1,00,000 km the EV more profitable up to 1,00,000 rupees.

Conclusion – As of now the technology still evolving for electric vehicle ev, Owner need to wait for thousands of km to get profit or advantage of it over IC Engine vehicle. For more news EV follows us on www.ewordlindia.com.

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