Are you thinking about switching to an electric vehicle (EV)? With fuel prices on the rise, it may never have seemed better to switch to an EV. However, with energy prices also increasing, would it be any cheaper to run an electric vehicle compared to a petrol or diesel car?
Simply put, yes, it is cheaper to run an electric vehicle than a traditional petrol or diesel car, and here’s why.
Electric Vehicles Vs. Petrol & Diesel Car Costs
Fuel Prices
Although the cost of filling or charging up your vehicle will vary depending on your location and the type of EV or petrol/diesel vehicle you purchase, it is generally cheaper to fuel electric vehicles.
The average UK electricity price is approximately 17.2p per kWh and the average electric car will travel 3.5 miles per kWh; this means that travelling 100 miles would cost around £5. The average petrol price is approximately £1.34 per litre and the average petrol car will travel 49.2 miles per gallon; this means that it will cost 12p per mile and travelling 100 miles would cost around £12.
Maintenance Costs
For both EVs and petrol/diesel vehicles, tyres will need to be changed on a regular basis. However, when it comes to other maintenance costs, electric vehicles are a lot cheaper and simpler to look after.
This is because they have fewer moving parts which means there are a lot less factors that could go wrong or wear out and that need repairing or replacing. As well as this, EVs use a different breaking method, known as regenerative breaking, which uses the motor to slow the vehicle whilst regenerating some electricity back into the battery. Due to the reduced wear and tear on the brakes, brake disks and pads require less maintenance.
Road Tax Requirements
Requirements for road tax depend on whether you have an EV or a hybrid and when your car was first registered. Nonetheless, due to road tax calculations being based on CO2 emissions, electric vehicles are exempt from paying for the first year and following years unless the car cost over £40,000 – road tax costs will still be lower compared to petrol/diesel vehicles though.
Hybrid cars will pay between £0 – £135 annually, depending on their C2 emission levels and vehicles registered between 1st March 2001 and 31st March 2017 with CO2 emissions less than 100 g/km are exempt from vehicle tax. EVs are also exempt from the congestion charge in London which is £15 per day and there are capital allowances available which could incur significant tax relief in the first year of ownership.
Electric Vehicles & Charging Solutions for Business
All in all, EVs have proven to be cheaper to run, so there’s no wonder why the demand for them is continually rising. Is your business considering making the transition to electric vehicles? Do you need assistance when it comes to EV Chargers and tariffs?
Get in touch with us today to discuss your requirements and see how we can help you.
