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mBnk Phygital Financial Marketplace Pvt Ltd
707, Bonanza, Sahar Plaza,
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Electric vehicles, the way to sustainability


mBnk has taken its very own green initiative and tied up with EBikeCo, for their e-bike Rugged, which is India’s toughest ebike. It is made especially for the Indian roads, to help facilitate an eco-friendly mode of transportation. The numerous benefits only prove that electric cars are certainly the future.

Mumbai, India
,
September 20, 2021

When a catastrophe strikes, we try our best to surpass it, studying how it could be averted. However, when we receive the early warning signs as to what triggered it, we choose to turn a blind eye. Our environment is at a detrimental stage and unless we make a conscious effort at bettering it, a catastrophe will strike.

“Each one of us matters, has a role to play, and makes a difference.”

-Jane Goodhall

The lifestyle we choose plays a powerful role in our contribution to create a sustainable environment. Be it the clothes we wear, the food we eat, or the transport we use, all of their sourcing comes back to the effect we have directly or indirectly on the climate. Our transportation requires massive use of fossil fuels, which produce harmful gases when they are burnt. A new alternative has come up for that which is known as an “Electric vehicle”.

Electric vehicles (EV’s) function with batteries as a source of energy instead of petrol and fuel. They are normally costly but prove to save money in the long run. Let’s look at the various benefits of an EV:

They create a sustainable environment

  • Alternate energy source:

Electric vehicles, as mentioned earlier, use batteries in place of fuel. While batteries do use up fossil fuels, it is at a much slower rate and there are renewable sources of energy that can be used in the future. Renewable energy such as solar energy can be used to provide electricity to charge the vehicle.

  • Reduce pollution:

Using an EV also helps minimize air pollution that occurs due to exhaust emissions. An EV has no exhaust emissions. The only harmful emissions it has are from when it gets charged from the electricity grid.

They help save money

  • Non-dependency on increasing petrol price:

The rate of petrol is increasing every day. The middle-class section of the society is finding it very tough to maintain their expenses for fuel. Through an EV, the increment in the price of petrol does not affect expenses as it requires electricity. A person can save as much as 40% of their expenditure on fuel.

  • Low maintenance cost:

Electric vehicles have a much more simple structure and operation. This helps reduce the cost of their maintenance and for their servicing. Servicing becomes not only cheaper but also less frequent and is easier.

Provide convenience to the owner

  • Convenience to charge:

Plug points to charge an electric car can be installed at the convenience of your house. EVs take around 4–5 hours to charge but can be used for daily intercity travel with ease. No more waiting in long queues or detours to a fuel station.

  • Easier to drive:

Most electric cars come without a gear stick. They require only the use of buttons, switches, and pedals. Electric bikes have come in the market with mobile access for operations such as switching the ebike on. They also come with navigation systems to help drivers with the ease of knowing the route to their destination.

Government Incentives

  • Concessions and subsidies:

The Indian Government has noted the huge impact that shifting to Ev’s can produce. States around the country are giving registration and road tax exemptions. Subsidies of up to ₹10,000 per kWh on 2 wheelers and 4 wheelers. Maharashtra also offers up to ₹25,000 on scrappage. All-electric vehicles are currently subjected to a lower rate of Goods and Services Tax (GST) at 5% which is much less than petrol/diesel cars. First-time buyers who take a loan can also get tax benefits of up to ₹1,50,000.

mBnk has taken its very own green initiative and tied up with EBikeCo, for their e-bike Rugged, which is India’s toughest ebike. It is made especially for the Indian roads, to help facilitate an eco-friendly mode of transportation. The numerous benefits only prove that electric cars are certainly the future.

Contact Us

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
mBnk Phygital Financial Marketplace Pvt Ltd
707, Bonanza, Sahar Plaza,
Andheri Kurla Road,
Andheri East, Mumbai- 400059