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Want to be environmentally friendly? Consider an electric two-wheeler

By Finserv MARKETS - Dec 23,2019
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Want to be environmentally friendly? Consider an electric two-wheeler

Bajaj has recently launched its e-scooter in the Indian market and Avinash, 29, is eager to get hold of it. He travels almost 60 km daily for office on his Honda Activa, but now wants to shift to an electric vehicle considering the ever rising fuel prices and growing concern about pollution in the national capital. As he waits for the pre-bookings to start, he discusses with his father, an environmentalist, how the EVs can significantly reduce global carbon emissions.

“A major cause of air pollution across the globe is the high number of vehicles, running on diesel or petrol. These motor vehicles emit into the atmosphere, substances like carbon monoxide, hydrocarbons, nitrogen oxides and particulate matter; and it is these substances that lead to air pollution,” Dr. Naveen Chandrasekhar tells his son. “However, electric vehicles do not emit air pollutants as they do not run on diesel or petrol engines. Furthermore, among the benefits of electric two-wheelers is that they also help in reducing fuel consumption.”

Why You Should Consider an Electric Two Wheeler

The basic means of transport in almost every urban household in India is a two-wheeler. In 2016, India snubbed China to emerge as the world’s biggest market for two-wheelers, selling 17.7 million units in that year. That’s over 48,000 vehicles every day. And these two wheelers account for emitting nearly 32 % of air pollutants. Therefore, switching to electric vehicles will not only improve the overall air quality, but also curb the menace of air pollution, which killed almost 1.2 million people in India in 2017. Moreover, it’s pocket friendly.

Benefits of Electric Two Wheeler

Reduce Greenhouse Gas Emission: After China and the United States, India is the world’s third largest emitter of greenhouse gases. It is also the fourth highest emitter of carbon dioxide across the globe, accounting for 7 per cent of total emissions. By opting for an electric two-wheeler you are helping to reduce harmful air pollutants from exhaust emissions. Also, if renewable energy is used to recharge the electric vehicle, the greenhouse gas emissions can be reduced further.

While metropolitan cities like Delhi, Mumbai, and Bengaluru face a common problem of ever increasing air pollution, EVs can serve as a comprehensive solution to all major issues related to pollution in India. Electric vehicles are bound to change the existing paradigm of motor vehicles and bring about changes to regulations, compliances, insurance and much more. Bike insurance, of course, will remain a necessity as it is today. Whenever you buy a fuel-powered vehicle or an electric vehicle, do remember to purchase the compulsory motor insurance available on Finserv MARKETS. Two-wheeler insurance on Finserv MARKETS starts at only Rs. 482 per year. You can reap a multitude of benefits including cashless claims at over 4000 garages across India!

  • Health Benefits:

Electric two-wheelers are not only beneficial for the planet but also for public health. While reducing the emissions that contribute to climate change and smog, they account for substantial health benefits. Better quality of air leads to less health issues caused by harmful pollutants. Also, EVs also quieter than gasoline vehicles, which means less noise pollution. According to the World Health Organisation (WHO), long-term exposure to high environmental noise levels (above 53 decibels) can result in adverse health effects.

  • Save Fuel For Future:

Electric two-wheelers can help India have a greater diversity of fuel choices available for transportation purposes. In 2018-19, India is reported to have consumed about 211.6 million tonne of petroleum products, a significant part of which went towards transportation. With the country is currently 83 % dependent on imports to meet its oil needs, complete switch to EVs will help in reducing oil consumption.

  • Cheaper To Run:

Other benefits of electric two-wheelers are that they are more energy and cost efficient than gasoline vehicles. If compared to petrol and diesel, electricity is cheap in India. It will hardly take you 1 or 2 units of power to charge your electric two-wheeler to full. Just like a smartphone, you can plug in your EV at your convenience, have it ready for you to use whenever you want. It costs less than half as much to travel the same distance in an electric two-wheeler than a conventional gasoline vehicle. Also, there are fluctuations in petrol prices due to political instability but electricity prices are mostly constant.

  • Quiet and Smooth:

Electric motors are quiet and provide smooth operation. What surprises people is that electric vehicles are superior to combustion vehicles in terms of torque, power and acceleration. Also, they don’t need engine oil and servicing for every two-three months. The maintenance cost on electric vehicles is almost negligible.They are like a one-time investment for lifelong benefits.

Tax Benefits: In a bid to promote EVs in India, the Central government in the Budget 2019 had announced an additional deduction of Rs. 1.5 lakh in income tax on the interest paid on loans taken to purchase EVs.

Electric vehicles help significantly in improving air quality, reducing noise pollution, besides keeping the atmosphere around you clean and clear. By opting for an electronic two-wheeler you will be saving not only yourself but the entire planet as the environmental impact of an electric vehicle is almost zero.

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