QUICK ANSWER
An EV usually costs more to buy but less to run, because electricity is often cheaper per kilometre than petrol and EVs need less maintenance. Whether it works out cheaper over five years depends on the price gap, how far you drive, how you charge, and local taxes and incentives. The more you drive and charge at home, the better the EV case.
The costs to compare
| Cost | EV | Petrol car |
|---|---|---|
| Purchase price | Often higher | Often lower |
| Energy | Electricity, cheapest when charging at home | Petrol, sensitive to fuel price swings |
| Maintenance | Fewer moving parts, no oil changes | Oil, filters, more wear parts |
| Brakes | Often last longer thanks to regenerative braking | Normal wear |
| Insurance | Can be higher in some markets | Varies |
| Tax and incentives | Often lower tax or subsidies, depending on country | Standard |
| Resale value | Depends on battery health and market demand | Well understood |
How to work it out for your situation
- Estimate your yearly distance.
- Multiply by energy use (kWh per 100 km for EVs, litres per 100 km for petrol) and your local prices.
- Add expected maintenance, insurance and tax over five years.
- Subtract the likely resale value at the end.
- Compare the totals.
What tips the balance
Long daily drives and cheap home charging favour EVs. Low mileage, expensive public charging or a large price gap favour petrol. Incentives change often, so check what applies where you live right now.
Frequently asked questions
Do EV batteries need replacing?
Most last many years, and makers usually offer long battery warranties. Capacity slowly falls over time.
Is public fast charging expensive?
It usually costs more than home charging and can narrow the running-cost advantage.
What about hybrids?
Hybrids sit in between: lower fuel use than petrol, no need to plug in for regular hybrids.
Sources
- US DOE Alternative Fuels Data Center: EV cost tools
- International Energy Agency: EV research