ICE Vehicles vs Electric Vehicles: OLA CEO Bhavish Aggarwal Shares His 'Two Cents' On This Hot Topic
At present the cost of an electric vehicle is about 25-30% higher when compared to a conventional internal combustion engine-powered four-wheeler.
OLA CEO Bhavish Aggarwal on Friday took to X (formerly Twitter) to share his logic on the recent hot topic of 'ICE vs EV' vehicles. Aggarwal summarised his opinion around this debate by making a four-pointer comparison in favour of EVs. Here's what he wrote on X,
"ICE vehicles will keep getting costlier to buy and use whereas EVs will keep getting cheaper to buy and use! Here’s the common sense logic:
ICE vehicles are inflationary - rising emissions compliance costs with every gen of BS, EU standards.
ICE fuel is inflationary. Petrol costs rise every year. EVs are deflationary.
Battery costs keep coming down. EV fuel - electricity, is deflationary - cost of renewable power keeps reducing.
This story ends only one way - with #EndICEAge. Sooner or later!"
Bhavish stated multiple reasons why ICE (internal combustion engine) vehicles will keep getting costlier and how advancement in the EV category will bring down the costs of different components of an electric vehicle.
Bhavish categorised ICE vehicles as inflationary (tending to cause inflation) whereas EVs as deflationary (reduction in prices). He stated how rising fuel (petrol, diesel) costs will further drive the costs of ICE vehicles and lowering battery costs will bring down the prices of electric vehicles, making EVs much more reasonable option as compared to internal combustion engine vehicles.
Not so long ago it was Minister of Road, Transport and Highway Nitin Gadkari who had also put his force behind EVs while speaking at the Winter Session of Parliament at the Rajya Sabha.
Gadkari said, "Electric vehicles have become popular. The cost difference between petrol-diesel and electric variants is the major problem in higher adoption. I estimate that within one and half years, the cost of electric vehicles and internal combustion engine vehicles will be the same."
Addressing the 19th EV EXPO 2023 in December last year Gadkari stated, "As per the Vahan database, 34.54 lakh EVs are already registered in India."
The Union Road Transport and Highways minister asserted that India has the potential to become the number one EV maker in the world and the government is committed to making India a self-reliant country in clean energy production and mass application.
