The automotive world is moving towards electric powertrain systems. The performance of an electric powertrain and its electric components majorly depends on the operating temperature of the components. In the small commercial vehicle segment overall vehicle cost is a very sensitive parameter while competing in the market. This paper presents advanced efficient cost-effective thermal techniques for small commercial electric vehicles (SCEV) to improve the performance & life of major electric components. It is observed that from the literature survey, this technology is a novel technology for small commercial electric vehicle applications. The one-dimensional (1D) simulation approach is employed to evaluate the performance of the battery and traction cooling system during battery charging and vehicle driving scenario for different ambient conditions. The proposed thermal management techniques consist of simple and cost-effective thermal architectures having 3-way & 4-way valves which help to recover waste heat and improve the overall vehicle performance in terms of range improvement or battery downsizing to achieve the same range. The effectiveness of each technique is analyzed through simulations, and the results show that the combination of these techniques can significantly improve the thermal behavior of the battery & electric motor as well as the range of the vehicle by 4 - 5 km. Also, it will improve the life of Battery cooling system components. The additional cost of 3-way & 4-way valves at the vehicle level will get recovered within a short duration of time compared to vehicle life. Furthermore, the cost-effectiveness of the proposed thermal management system is demonstrated, making it a viable solution for all electric small commercial vehicles. This study provides valuable insights for the design and development of efficient and cost-effective thermal management systems for small commercial electric vehicles. Key Words - Small commercial electric vehicle, Cost-effective, Thermal management, Battery, Electric motor, 3-way valve, 4-way valve, Efficiency, Range, Life.