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The Economics of Electric Vehicles in India: Is Green Mobility Financially Viable for the Average Consumer

 

 

SHREYAS MISHRA

AUGUST 2025

 

 

ABSTRACT

 

This paper explores the rise of electric vehicles (EVs) in India, tracing their history, policies, costs, behavioral challenges, and case studies. It evaluates whether electric vehicles and other green mobility options are economically and environmentally feasible for India.

INTRODUCTION

Automobiles powered by electricity rather than conventional internal combustion engines that run on petrol or diesel are known as electric vehicles, or EVs. They store energy in rechargeable batteries, which then drive an electric motor to move the car. Compared to traditional cars, EVs are far cleaner and more environmentally friendly because they don't burn fossil fuels while in motion, which results in zero tailpipe emissions. EVs can be classified as fully electric, plug-in hybrid (which combines a battery and a fuel engine), or hybrid (which charges itself without a plug).

EVs not only reduce pollution but also provide advantages like reduced noise, smoother driving, and lower operating costs. They can be charged at public charging stations, which are becoming increasingly prevalent, or at home using a regular outlet. EVs are becoming more feasible for daily use thanks to advancements in battery technology that increase driving range and shorten charging times. EVs are viewed as a critical step in lowering reliance on fossil fuels and addressing climate change, as governments and businesses around the world push for sustainable transportation.

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