I have been tracking the running costs of my friend’s Tata Nexon EV and my Honda City petrol for 8 months now. The results are fascinating — and not as one-sided as either camp would have you believe.
Everyone focuses on the “Rs 1 per km” claim for EVs. That number is technically possible, but the real picture has more layers. Let me walk you through what actually happened with real money from real driving.
Charging Cost: The Real Numbers
Home charging is where EVs shine. At Rs 7 per unit (average domestic rate), charging a 40 kWh battery from 20% to 100% costs about Rs 224. That gives roughly 250 km of real-world range. So the cost per km comes to around Rs 0.90.
But here is what changes the math:
Public fast charging: Rs 15-25 per unit depending on the network. The same charge now costs Rs 480-800. Suddenly your per-km cost jumps to Rs 1.90-3.20. If you rely heavily on public charging (apartment dwellers without dedicated parking), your savings shrink dramatically.
Home electricity slab impact: Charging an EV at home adds 200-350 units per month to your electricity bill. In states like Maharashtra, this can push you into a higher tariff slab, making ALL your electricity more expensive — not just the EV charging portion. This hidden cost adds Rs 500-2,000 per month depending on your baseline consumption.
Side-by-Side Monthly Cost
| Expense | Petrol (Honda City) | EV (Nexon EV) |
|---|---|---|
| Fuel / Charging | Rs 7,500 | Rs 1,400 (home) |
| Insurance | Rs 2,500 | Rs 3,200 |
| Service & Maintenance | Rs 1,200 | Rs 400 |
| Tyre replacement (amortized) | Rs 400 | Rs 600 |
| Monthly Total | Rs 11,600 | Rs 5,600 |
Based on 1,500 km per month driving. That is a saving of Rs 6,000 per month or Rs 72,000 per year with home charging.
The Purchase Price Problem
The Nexon EV costs roughly Rs 14-15 lakh (on-road) vs Rs 12-13 lakh for the petrol Honda City. That Rs 2-3 lakh premium takes 3-4 years to recover through fuel savings alone.
But wait — government subsidies (FAME II and state incentives) can bring the gap down. In Delhi, the effective price difference shrinks to Rs 1-1.5 lakh thanks to road tax exemption and registration fee waiver.
Things Nobody Mentions
Battery degradation: After 8 years and 1,50,000 km, expect 15-20% range loss. A battery replacement costs Rs 4-7 lakh. No company is transparent about this yet.
Resale value: Used EV market in India barely exists. Your petrol car retains 40-50% value after 5 years. EV resale is anyone’s guess right now, though early data suggests 35-45%.
Road trip anxiety: Mumbai to Goa in a petrol car? Fill up and go. In an EV? You are planning charging stops, worrying about charger availability, and adding 2-3 hours for charging breaks. Long highway trips remain a petrol advantage.
Apartment charging drama: If you live in an apartment society, getting approval for a home charger can take months of meetings and committee approvals. Some societies flat-out refuse. This is a genuine deal-breaker for many potential EV buyers.
Who Should Buy an EV Today?
Yes, buy an EV if: You have home charging access, drive 50+ km daily in a city, plan to keep the car 5+ years, and are okay with planning road trips around chargers.
Stick with petrol if: You live in an apartment without dedicated parking, frequently drive 300+ km in one go, plan to sell the car within 3 years, or live in a city with unreliable power supply.
Calculate Your Savings
Your situation is unique. Use our Fuel Cost Calculator to compare the exact running cost for your driving pattern. Enter your daily distance, fuel price, and electricity rate to see the real numbers for your case.
My Take
EVs save real money on running costs — that is undeniable. But they are not magic. The total cost of ownership advantage depends heavily on your charging situation, driving pattern, and how long you keep the car. If the math works for your specific case, go for it. If you are forcing it to work by ignoring inconveniences, you will regret it.
Run the numbers. Trust the numbers. Ignore the hype from both sides.