Understanding EV Total Cost of Ownership (TCO)
While the initial sticker price of an electric vehicle may be higher than an equivalent petrol or diesel model, evaluating total cost of ownership over a 3 to 5-year cycle can show lower running costs. This calculator does not model pack replacement. Read electric vehicle battery lifespan and what LFP is before you treat degradation as a rounding error.
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Home Off-Peak Charging Tariffs
Charging overnight at home, often around 18¢/kWh on a time-of-use rate, is the cheapest cost per mile. Occasional public DC on a trip still usually leaves a blended ¢/kWh well below petrol or diesel per mile.
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30–50% Lower Servicing & Maintenance
Electric drivetrains have roughly 20 moving parts compared to over 2,000 in an internal combustion engine. There are no motor oil changes, spark plugs, timing belts, fuel filters, or exhaust components. Regenerative braking also extends brake pad life well past 100,000 miles.
Typical 5-Year Cost Comparison (12,000 mi / year)
Same US defaults as the sliders: 35 mpg, $3.85/gal, 29 kWh/100 mi, 18¢/kWh home, 25% public DC at $0.52/kWh, plus $400/yr lower servicing. Switch to EUR · km for a 20,000 km European example.
| Cost Category | Petrol Car (35 mpg) | Electric Car (29 kWh/100 mi) | 5-Year Savings |
| Fuel / Energy (60,000 mi) | ~$6,600 ($11.00/100 mi) | ~$4,611 ($7.69/100 mi) | +$1,989 |
| Lower servicing ($400/yr) | — | — | +$2,000 |
| Same 5-year total as the tool | — | — | +$3,989 |