EVs will still be cheaper to run than ICE despite energy costs, says RAC

The overall cost of running an electric vehicle will remain cheaper than fossil fuelled cars even as the energy price cap increases.

A report commissioned by the RAC found that approximately 80% of electric car charging takes place at home, with home chargers often running overnight when electricity prices are lower.

The report states that even with rising energy costs, owning and running an EV will be good value in comparison to combustion engine vehicles when the October changes begin.

If electric vehicle owners continue to primarily charge their cars overnight during off-peak hours, the cost of running an EV will be cheaper than traditional cars.

Rob Keenan, joint MD at leading dealer group Drive Motor Retail said: “We have been selling electric cars for several years now, and in that time demand for them has rocketed. We now have a healthy stock of used EVs which allow customers on a lower budget to purchase their first EV.

“Electric cars are cheaper to maintain as there are fewer serviceable parts and fluids compared to a combustion-engined vehicle. On average, EVs cost 30 per cent less to service and consumable parts like brakes last longer thanks to the regenerative braking technology.

“These cost savings combined with zero road tax, clean air zone exemptions and cheaper parking mean that while rising energy costs have inevitably made the running costs of an electric car higher than previously, drivers should not be put off as they are still lower than a combustion-engined vehicle.”