EV Ownership
Owning an EV
How much does an electric car cost ?
The cost of buying a new EV is approximately 18% more than buying an internal combustion engine vehicle. This is due to the manufacturing costs associated with the batteries and electric motor – a lot more new technology that goes into each EV. However, thanks to advancements in this technology already, EVs have reduced in price, and a Bloomberg study even predicted they will cost the same as petrol cars by 2024.
How much does an electric car cost ?
The cost of buying a new EV is approximately 18% more than buying an internal combustion engine vehicle. This is due to the manufacturing costs associated with the batteries and electric motor – a lot more new technology that goes into each EV. However, thanks to advancements in this technology already, EVs have reduced in price, and a Bloomberg study even predicted they will cost the same as petrol cars by 2024. That’s not a reason to hold off on buying an EV, as the savings come after you’ve bought one.
Operating an electric vehicle can easily result in a four-figure fuel savings per year. This is because the cost of energy required to charge your EV's battery is significantly lower than the cost of putting petrol or diesel in your fuel tank. It can cost as little as 2p per mile to fuel an electric car, compared to up to 14p per mile for a conventional petrol or diesel vehicle.
