The TCO (total cost of ownership – operating costs for the entire period of use) for electric vehicles (EV) is less than half as much as for vehicles with combustion engines (ICEV). Already today, the purchase price for electric vehicles is scarcely higher than for other vehicles in the same class. The operating costs (energy, insurance, taxes), on the other hand, are just ten to 30 percent in comparison with vehicles with a combustion engine, depending on the country. Because there are no parts which are prone to wear and no fluids, the maintenance costs are low to non-existent. The service life of electric vehicles is conservatively estimated to be at least 500,000 km.

These factors are crucial in the cost calculation:

  • Purchase price: Electric vehicles are CHF/EUR 5,000 to 10,000 more expensive in comparison with vehicles with combustion engines.
  • Charging infrastructure: The appropriate charging solution for EVs costs another CHF/EUR 600 to 1,000.
  • Subsidies and tax breaks: In the EU, there is an environmental bonus for EVs with a discount of between EUR 800 (Austria) and up to around EUR 9,000 (Germany/Monaco) and EUR 10,000 (Romania).
  • Consumption: Electricity prices in Europe vary between 10.2 cents (Bulgaria) and 31.9 cents (Germany) per kilowatt hour. Assuming 30 cents per kWh, you are consequently hitting the upper limit with annual electricity costs of approx. CHF/EUR 675. Assuming CHF/EUR 1.80 per litre of petrol, a comparable petrol-driven vehicle has fuel costs of around CHF/EUR 1,500 (for 15,000 km/year).
  • Vehicle tax: Depending on the vehicle, configuration and country, combustion engine vehicles cost EUR 500 – electric vehicles are often exempt from vehicle tax (in Germany until 2030).
  • Maintenance and service: Electric vehicles have hardly any wear parts so the maintenance and repair costs for electric vehicles are 30 percent lower than for vehicles with combustion engines.

 

Summary

It is true that the costs shift towards purchase for EVs in comparison to ICEVs. But you don’t need to spend as much for maintenance and energy. In other words: Electric vehicles are more financially attractive than vehicles with conventional drive systems after just three years. A Tesla Model S is thus calculated to cost as much as a VW Golf across five years, and a Renault Zoe costs as much as a superior scooter.

 

Sources:

https://e-driver.net/know-how/einsteigen-starten/drei-gruende/
https://www.e-spirit.net/witzige-irrt%C3%BCmer (Mistake # 8)
https://www.mobilityhouse.com/de_de/ratgeber/tco-vergleich-elektroauto-vs-benziner
https://strom-report.de/strompreise-europa/