BEVs have higher initial investment but lower running costs

According to statistics from LeasePlan, the cost of owning and operating an electric car is currently less expensive than petrol or diesel in nearly every nation in Europe. This is due to rising gasoline costs this year.
Despite having reduced operating expenses due to less maintenance and cheaper refuelling, battery-powered cars are nonetheless more expensive to purchase than versions with traditional engines.

A Ford Kuga or an electric koda Enyaq, for example, would cost around the same or less in 19 of the 22 European nations analysed, including the UK, France, Germany, and the Netherlands. The model was noticeably more costly when it was electrified only in Poland, Italy, and the Czech Republic.

In the UK, purchase and operating expenses for smaller cars, such as the Renault Megane or the Kia Nero, were €919 for electric, €941 for diesel, and €954 for gasoline per month. In France, the identical automobiles cost only €735 per month for electric vehicles compared to €904 for diesel and €868 for gasoline.

While the cost of refuelling a gasoline or diesel vehicle generally stayed consistent, the price of charging an electric vehicle was wildly variable. In most cases, overnight charging for many hours at home was less expensive than using a public fast-charger, which costs more because of its faster rate.

For its EV charging estimates, LeasePlan used the typical electric customer’s charging patterns, which include charging at home 65% of the time, at work 20% of the time, and at a costly public charging station 15% of the time.

According to LeasePlan, the cost of charging an electric vehicle made up 15% of the entire cost of ownership, but the cost of refuelling a diesel vehicle made up 28% of the total cost of ownership.

The survey also noted that there were still large regional differences in the total cost of operating any vehicle. Greece is the least expensive country, with a monthly average cost of €905; Switzerland has a monthly average cost of €1,313.

Source: LeasePlan

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BEVs have higher initial investment but lower running costs
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