The TCO (total cost of ownership) for electric cars (EVs) is less than half that of vehicles with internal combustion engines (ICEVs). Even today, the purchase costs for electric vehicles are hardly higher than for other cars in their class. The operating costs (energy, insurance, taxes), on the other hand, are only ten to 30 percent compared to cars with internal combustion engines, depending on the country. Since there are no parts and fluids that are susceptible to wear, there are little to no maintenance costs. The service life of electric vehicles is conservatively estimated at at least 500,000 km.

These factors are important when calculating costs:

  • Purchase costs: E-cars are 5,000 to 10,000 CHF/EUR more expensive than combustion vehicles.
  • Charging infrastructure: For EVs, an additional 600 to 1,000 CHF/EUR is charged for the appropriate charging solution.
  • Subsidies and tax breaks: There is an environmental bonus for EVs in the EU with a deduction of EUR 800 (Austria) to around EUR 9,000 (Germany/Monaco) and EUR 10,000 (Romania).
  • Consumption: Electricity prices in Europe range from 10.2 cents (Bulgaria) to 31.9 cents (Germany) per kilowatt hour. If you calculate with 30 cents per kWh, you are therefore at the upper limit with annual electricity costs of around 675 CHF/EUR. For a comparable petrol car, assuming 1.80 CHF/EUR per liter of petrol, the fuel costs are around 1,500 CHF/EUR (at 15,000 km/year).
  • Vehicle tax: Combustion engines around 500 EUR depending on the vehicle, equipment and country – electric cars are often exempt from vehicle tax (in Germany until 2030).
  • Maintenance and service: E-cars have hardly any wearing parts, so the maintenance and repair costs for e-cars are 30 percent lower than for cars with combustion engines.

Conclusion

It is true that the costs of EVs are higher when compared to ICEVs. However, less has to be spent on maintenance and energy. In other words, electric cars are generally more financially attractive than conventionally powered vehicles after just three years. For example, a Tesla Model S costs as much as a VW Golf over five years and a Renault Zoe as much as a better scooter.

Sources:

https://e-driver.net/know-how/einstieg-starten/drei-gruende/
https://www.e-spirit.net/witzige-irrtümer (Mistake No. 8)
https://www.mobilityhouse.com/de_de/ratgeber/tco-vergleich-elektroauto-vs-benziner
https://strom-report.de/strompreise-europa/