Think EVs Are Costlier? You might be wrong

Whenever you talk to someone about an EV, the first thing a person tells you is the higher upfront costs.

So I thought, why not create a tool that will help the prospective buyer in comparing the cost of ownership over a period?

Here is the tool - https://ferrarirules-creator.github.io/ev-ice-calculator/

How it works

1. Driving parameters - You enter your Driving Split, Monthly running, Ownership Duration, and State
2. Vehicle details - You enter EV and ICE - ex-showroom price. The tool auto-calculates the RTO, Insurance, and TCS. If you think the RTO calculated is wrong, you can edit the same.
3. Loan Parameters - You enter the down payment amount. Interest and tenure are prefilled and can be changed as per need. You can remove the loan parameters if you are not opting for a loan.
4. Running costs, Return on savings, and Depreciation are prefilled values and can be adjusted as needed.
5. You can download your comparison as an image and share it with your friends and family.

Example -
Nexon.EV Empowered+ A vs Nexon Fearless Plus (PS) 1.2 Petrol DCA (ADAS).

For this example, as the EMI+Fuel cost of the EV is less than ICE car, the EV is cheaper to own from Day 1. As low as 700 km a month, Nexon.EV has a lower cost over the ownership period.

Please use the tool (Free of cost) and provide feedback. Also, the tool is not capturing any personal data.

P.S. - There are some EVs like Windsor, VF6, and VF7, which are cheaper than equivalent ICE cars

Sample Comparison -