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Mercedes-Benz India head, Santosh Iyer, believes EVs are more economical than petrol cars in the long run.
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The total cost of ownership for an EV is lower, with fuel costs of Rs 3,000-3,500 for 2000 km of driving per month, compared to Rs 12,000 for a petrol car.
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Maintenance costs are also lower for EVs, with additional financial benefits like accelerated depreciation for businesses.
In an exclusive interview, Santosh Iyer, MD & CEO of Mercedes-Benz India, shared his expert advice for buyers confused between electric cars and petrol cars. He emphasized that owning an EV is more economical in the long run, despite the premium for sustainability.
Iyer highlighted that the total cost of ownership for an EV is lower, with fuel costs of Rs 3,000-3,500 for 2000 km of driving per month, compared to Rs 12,000 for a petrol car. Additionally, maintenance costs are lower for EVs, making them a more feasible option. Mercedes-Benz has recently launched its most affordable electric SUV in India, the EQA 250+, starting at Rs 66 lakh (ex-showroom).
Mercedes-Benz has been leading the market for nine years and was the first to introduce an electric vehicle in India in 2020. The automaker has localized its plant in Chakan, making luxury EVs more affordable. With 80% of cars sold in India on finance, the equated monthly installment (EMI) for the EQA is only about Rs 5,000 more, making the shift to an EV feasible for many.
