In this article, we will understand Educational Institutions Electric Vehicle Subscription Services. Educational institutions need vehicles for transportation. It contributes to a lot of environmental pollution and carbon emission in the current scenario. People have become more and more aware of all the existing problems. The oil prices are going up on a daily basis. So, for all the above-stated problems, people need solutions. For this electric vehicles have come up as the best answer to all the above line questions.
Electric Vehicle Entry in Educational Institutions
Electric vehicles have made their entry in all segments. The educational institution is one such segment. With the increase in the adoption rate for electric vehicles, students in India are also a part of this ever-growing journey. They have started adopting electric vehicles for going to college and for other educational purposes. We can take the example of Bangalore in Karnataka. Campuses in Bangalore are slowly adopting more and more Electric bikes and cars.
The institution is also providing them with charging points at regular intervals. Students, faculty members, and staff are becoming climate conscious and moving towards cleaner and sustainable solutions. They are also coming up with subscription services inside the campus. Here, students or any staff can take the electric vehicle just by scanning the QR code and paying a certain amount, and can freely use the electric two-wheeler.
Some Examples in the Current Situation
The Indian Institute of Science has set up its first grid solar-based electric vehicle charging point on its campus. They have electric vehicles for passengers as well as for solid waste management. They are also undergoing a study to develop a dashboard on the electric vehicle charging infrastructure required on their campus. Seeing this, other colleges and universities are also taking steps to initiate cleaner and greener environmental steps. This includes making students and staff aware of electric vehicles. This will also include making people aware of all the positive factors of electric vehicles.
Advantages of Educational Institutions Electric Vehicle Subscription
- No Noise Pollution – These electric vehicles function silently. They do not have an engine which means no noise. Some electric vehicles are so silent that the manufacturers add some false sounds. They do this in order to make them safe for pedestrians.
- Low Maintenance Cost – The maintenance cost of electric vehicles is much lower than that of any other vehicle. One most important reason is that it doesn’t have many moving parts which lower its running cost.
- Low Running Cost -There are numerous reasons for EV adoption. Still, the most important reason is the running cost of an electric vehicle is much lower than that of traditional vehicles or equivalent petrol or diesel vehicles. They use electricity to charge their batteries instead of using non-renewable fossil fuels like petrol or diesel. Electric vehicles combined with electricity cost is cheaper than petrol or diesel vehicle. They are also using renewable energy resources which means it is more eco-friendly.
- Tax and Financial Benefits – There are lots of tax and financial benefits attached to an electric vehicle. This is always more than any petrol or diesel vehicle. The government provides a lot of incentives and subsidies for these vehicles making them affordable for the common people.
Government Schemes
Our Government has launched lots of plans and initiatives for students to adopt Electric vehicles easily.
- PLI Scheme– The Production Linked Incentive for Advanced Chemistry Cell Battery Storage (PLI-ACC Scheme) was introduced by the Department of Heavy Industries in June 2021. The organization’s objective is to persuade both domestic and foreign investors to make investments in India’s Giga scale ACC manufacturing plants. PLI-ACC Scheme is one of the thirteen programs approved by the Union Government to support the Prime Minister’s vision of “Atmanirbhar Bharat”. The total payout under the scheme is INR 18,100 crores. Money will be paid over a five-year period from the start of production.
- FAME-II – FAME II is the second phase of a three-year compensation scheme. It seeks to encourage the electrification of shared and public transportation, including the 7,000 electric and hybrid buses, 5,00,000 electric three-wheelers, 55,000 electric four-wheeler passenger cars, and 1 million electric two-wheelers.To decrease the use of gasoline and diesel vehicles, the Indian government established the FAME India project on April 1, 2015. This program was crucial to India’s adoption of electric mobility. With a budget of Rs 10,000 crore, the FAME II scheme was launched in April 2019. The goal was to encourage wider EV usage in India. In 2022, the plan was intended to be completed. But recently, the Government of India has decided to extend the FAME-II scheme till 31 March 2024.
Options for Educational Institutions Electric Vehicle Subscription Services
We have seen a new trend in the automobile market. Buying a vehicle is a costly affair. It becomes even more difficult when it comes to electric vehicles. Electric vehicles are costlier than normal conventional vehicles. Indian consumers want value for every rupee they spend. This service has made the life of Indian customers very easy. This is an entirely new way of getting a new car. In this, the person does not have to buy or own a car. It is a flexible way of ownership and is also affordable.
There will be a lock-in period of 12 months after that the owner will have the option to keep using it at a flat monthly fee. After the lock-in period, he or she can opt out anytime. So just by paying the monthly rent or bill, one can own a car. If a person wants he can buy it at a predetermined settlement charge.
Benefits of Electric Vehicle Subscription Services
- Monthly Commitment– A person can go for a monthly commitment if he does not want a car for a long time. He can use a car for a few months and then return it. He will just have to pay rent for those months. He has the power to continue, discontinue or stop his usage whenever he wants.
- Insurance Covered– The customer does not need to worry about the insurance. The company offering the vehicle takes care of all these services. The customer just needs to fulfill the formalities and take the car with him.
- Servicing– All the servicing and maintenance are done by the company. Here the customer just drives and relaxes. He does not need to remember the servicing and maintenance dates. He even does not have to worry about taking his vehicle to the service center again and again.
- Breakdown Cover– In this model, all the breakdowns are covered under the subscription that is paid. The customer need not worry about the breakdown expenses.
- Road Tax– Electric vehicles do not have to pay any tax. They are exempted from all the road taxes that are applied to other conventional vehicles.
Services Offered by the Companies
We know that there is a lot of competition in this particular segment. All the big market players want to attract customers. Indian customers are very price-conscious and sensitive. Indian customers want value for every rupee they pay. For this, all the companies are trying to attract customers. For this, they come out with new ideas and schemes. These companies also offer various services and lucrative subscription models.
- These companies offered diverse fleets of electric and hybrid vehicles to choose from.
- They know that customers will get attracted when they will get various options to choose from.
- They offer short-term commitment. This means a customer can book this subscription even for one month.
- They give full insurance covered vehicles. They know that customers do not want to spend even a single rupee apart from the subscription that they have paid.
- They do all the maintenance and servicing for the vehicles. Now, the companies offer pick-up and drop facilities for vehicles at customers’ doorsteps.
- Many companies nowadays provide charging resources. Normal people do not have charging facilities and equipment in their homes. Companies offer charging resources and facilities along with the vehicle. They even send expert technicians to install the charging facility at their homes.
- Good customer support attracts customers. These companies offer 24/7 customer service and support.
Conclusion
So, we can say that Educational Institutions Electric Vehicle Subscription Services are a very good idea in a country like India. Buying a vehicle is a costly affair. The subscription model will attract a huge customer base. This model reduces the load on the manufacturing, environment as well as on roads. This way people will use vehicles only when they require them. We need to protect our environment along with all the natural resources for future generations. We need to work together to build a greener and cleaner future for generations to come.
