This study investigates the net financial implications of transitioning from internal combustion engine (ICE) vehicles to electric vehicles (EVs) for private consumers in Mumbai. Amid volatile fuel prices, densifying traffic patterns, and targeted state subsidy frameworks under the Maharashtra EV Policy, the research provides a granular Total Cost of Ownership (TCO) analysis. By modeling empirical consumer usage profiles across Mumbai’s unique micro-segments—factoring in daily urban commutes, Western and Eastern Express Highway traffic congestion, and variable residential electricity tariffs—this paper quantifies the exact inflection points where EVs cross the threshold of economic parity with traditional vehicles.
The research integrates primary quantitative data from local EV owners alongside secondary financial metrics to evaluate three main economic dimensions: upfront capital premiums versus long-term operational savings, infrastructure deficits (such as localized public charging costs and housing society installation bottlenecks), and asset depreciation curves unique to the Indian automotive market. The findings reveal that while initial acquisition costs remain high, the lower per-kilometer running costs and reduced maintenance overheads yield substantial net positive returns for high-utilization urban drivers. Ultimately, this thesis maps out strategic financial recommendations for middle-class Mumbai households, providing a predictive framework to assess whether an EV alignment represents a viable, long-term wealth preservation strategy in a rapidly evolving macroeconomic landscape.
Table of Contents
1 ABSTRACT
2 INTRODUCTION
3 REVIEW OF LITERATURE
4 CONCEPTUAL FRAMEWORK
5 RESEARCH METHODOLOGY
6 ANALSIS & INTERPRETATION
7 CONCLUSION & RECOMMENDATION
8 BIBLIOGRAPHY
9 ANNEXTURE
Research Objectives & Core Themes
This study investigates the financial impact of the electric vehicle (EV) transition on consumers and transport operators within the Mumbai Metropolitan Region (MMR), focusing closely on how upfront acquisition costs, ongoing operational savings, and infrastructural readiness influence real-world adoption decisions.
- Analysis of direct and indirect financial savings for consumers through EV adoption in public and private transport segments.
- Evaluation of consumer perceptions regarding affordability, cost-effectiveness, and overall satisfaction.
- Assessment of critical barriers, specifically high upfront purchase costs and charging infrastructure availability.
- Investigation of government policies, subsidies, and financing options that drive or hinder the transition.
- Comparative examination of Total Cost of Ownership (TCO) across different vehicle categories like two-wheelers, cars, auto-rickshaws, and buses.
Excerpt from the Book
1.1 Background of the Study
Mumbai leans heavily on internal combustion engine (ICE) vehicles, and that’s really starting to hurt people’s wallets. As of March 9, 2026, petrol prices in Greater Mumbai are stuck at around ₹103.50 to ₹103.54 per litre. Prices have held steady in early 2026, but don’t forget—they shot up past ₹110 per litre not long ago. It’s a clear sign that fuel markets are unpredictable and, honestly, not getting any friendlier.
This constant price jump squeezes household budgets, especially for the middle class. Surveys show about 65% of Mumbai residents are at least thinking about cutting down on non-essential travel just to manage their expenses. Take a typical commuter covering 30 km a day: their monthly fuel bill is way higher than it was five years ago, turning everyday travel into a real headache. And it’s not just about getting to work or school—rising transport costs mean everything from groceries to basic services cost more, piling even more pressure on families.
Businesses aren’t immune either. Petrol pump owners say sales have dropped by up to 15% because people are driving less or looking for alternatives. Delivery companies and local shops feel the pinch too, as fuel eats into their profits.
Summary of Chapters
ABSTRACT: Provides an executive overview of the study's core motivation, methodology involving 101 respondents, and key takeaways regarding EV affordability and policy alignment in Mumbai.
INTRODUCTION: Explores the historical evolution of electric vehicles, the pressing local challenges of rising fuel costs and urban air pollution in Mumbai, and outlines the foundational research problems, questions, objectives, and hypotheses.
REVIEW OF LITERATURE: Synthesizes extensive global and domestic research papers, articles, and theses covering urban transport economics, consumer behavior, range anxiety, policy frameworks, and identified research gaps.
CONCEPTUAL FRAMEWORK: Defines core concepts like EV adoption, affordability, and infrastructure, while analyzing recent national and state-level policy interventions such as FAME I/II, EMPS 2024, and the PM E-Drive Scheme alongside Total Cost of Ownership dynamics.
RESEARCH METHODOLOGY: Details the mixed-methods quantitative design, stratified sampling framework targeting 101 respondents across Mumbai, data collection via Google Forms, descriptive statistics, and chi-square hypothesis testing.
ANALSIS & INTERPRETATION: Presents in-depth survey results, demographic profiles, and comparative TCO analyses for two-wheelers, four-wheelers, auto-rickshaws, and electric buses, complete with empirical hypothesis evaluations.
CONCLUSION & RECOMMENDATION: Summarizes key short-term and long-term findings, offering actionable policy recommendations for expanding infrastructure, refining subsidies, and steering future research directions.
BIBLIOGRAPHY: Compiles comprehensive academic primary sources, official government reports, institutional studies, and media articles referenced throughout the dissertation.
ANNEXTURE: Contains the complete structured survey questionnaire and pilot testing instruments utilized for gathering consumer feedback across the Mumbai Metropolitan Region.
Keywords
Electric Vehicles, Consumer Affordability, Commuting Costs, Mumbai Metropolitan Region, Charging Infrastructure, Government Incentives, Sustainable Transport, Cost Benefit Analysis, Consumer Behaviour, Policy Frameworks, Total Cost of Ownership, Public Transport Electrification
Frequently Asked Questions
What is the primary focus of this research work?
The dissertation investigates the financial impact of transitioning to electric vehicles (EVs) on consumers and transport operators within the Mumbai Metropolitan Region, focusing on affordability, daily commuting expenses, and economic viability.
What are the core thematic areas covered in the study?
The core themes include consumer cost savings, upfront purchase barriers, charging infrastructure availability, government policy incentives, public transport electrification, and total cost of ownership across various vehicle categories.
What is the primary research question or objective of the publication?
The study aims to evaluate whether EV adoption successfully reduces monthly commuting expenses and enhances household affordability, bridging the gap between national macro-level green goals and micro-level consumer realities.
Which scientific and statistical methods are employed in the research?
The study utilizes a mixed-methods approach combining structured surveys, stratified sampling of 101 respondents, descriptive statistics, comparative cost analyses, and chi-square tests of independence for hypothesis testing.
What topics are addressed in the main body chapters?
The main body comprehensively covers the history of EVs, policy evolutions (FAME to PM E-Drive), literature reviews, conceptual frameworks, detailed survey data interpretations, and rigorous comparative Total Cost of Ownership (TCO) models.
Which specific keywords characterize the academic scope of the publication?
Key terms include Electric Vehicles, Consumer Affordability, Commuting Costs, Mumbai Metropolitan Region, Charging Infrastructure, Government Incentives, Sustainable Transport, and Total Cost of Ownership.
How does the study evaluate electric two-wheelers compared to petrol alternatives?
Through a 5-year TCO analysis comparing the TVS iQube with the petrol-powered TVS Jupiter, demonstrating significant long-term running cost savings despite higher upfront purchase prices.
What findings are highlighted regarding public transport electrification in Mumbai?
The research analyzes the Brihanmumbai Electric Supply and Transport (BEST) electric bus rollout, showing direct fare savings of around ₹8 per trip and reduced urban noise and air pollution.
How do upfront costs act as a barrier for Mumbai commuters?
Survey results indicate that approximately 90% of respondents identify high initial purchase prices as a major deterrent, establishing that financial relief and accessible financing options are essential for mass adoption.
What policy recommendations are proposed to accelerate EV adoption?
The author recommends expanding charging infrastructure at strategic urban hubs, implementing targeted direct subsidies, encouraging fleet electrification, and launching public awareness campaigns to build consumer trust.
- Quote paper
- Siddhartha Kiran (Author), 2026, Financial Impact of the EV Transition on Consumers in Mumbai’s Transport Sector, Munich, GRIN Verlag, https://www.grin.com/document/1785766