TOTAL COST OF EV OWNERSHIP

EV Channels Review

This panel discussion from Fully Charged Live 2018 delves into the crucial topic of Total Cost of Ownership (TCO) for electric vehicles (EVs). The experts highlight that while the upfront cost of EVs can be higher, significant savings are realized through dramatically lower running costs, particularly in fuel and maintenance. Brake pads last three times longer, and servicing is minimal, with fewer moving parts compared to traditional internal combustion engine cars. The discussion also touches upon government incentives, the variability of petrol and diesel prices, and the surprisingly strong residual values of used EVs, with demand outstripping supply. While acknowledging that EVs may not suit every application yet, the consensus is that for most users, especially in urban environments and for fleet operations, EVs offer a compelling financial advantage, future-proofing against rising fuel costs and emissions regulations. Battery leasing is cautioned against due to long-term cost-effectiveness concerns.