23rd July 2020: Energy Live News today reported that during their lifetime Electric Vehicles can cost an average of around £107 every year less than petrol or diesel cars, according to a new survey.
Buying and owning an electric vehicle, or EV as they are known, is now more cost-effective than getting a new petrol or diesel car according to new research from Direct Line, which suggests EVs are now cheaper to own over their whole lifetime – they can cost an average of around £107 every year less than petrol or diesel cars.
The average total cost of buying a new EV and driving it for about 14 years has been calculated as £52,133, compared to £53,625 for an equivalent petrol-fuelled model.
This means the EV would cost the owner £3,752 a year during the course of its life, while the annual total for a petrol car amounts to £3,858.
The findings of the analysis also point out the annual running costs for an EV are 21% lower, with an average of £1,742, or £33.50 per week, compared to £2,205 per year or £42.40 per week for a diesel car.