Running costs of EVs
What the LEXperts say
With significantly fewer components than petrol and diesel vehicles, EVs reduce your maintenance and repair costs. Regular advances in battery technology also mean today's EVs are more affordable to produce and cost efficient to run.
By the third year of owning an EV, you will typically spend much less on maintenance and running compared to a petrol or diesel car. For example, annual maintenance for EVs usually costs between £200-£300, while petrol and diesel vehicles can set you back £400-£600 - that's potential savings of up to 40%. With fewer moving parts and extended servicing intervals, EV MOTs are quicker to perform. Plus, new cars (including EVs) are exempt for the first three years.
When assessing costs, fuel expenditure is a key factor. Table 1 provides a direct comparison of fuel costs across EVs, petrol, and diesel vehicles, demonstrating the potential savings available when transitioning to an EV.
Table 1: Fuel cost comparison
|
Fuel type |
Average efficiency |
Cost per mile |
Annual cost (7,500 miles) |
Annual savings with an EV |
|---|---|---|---|---|
|
Fuel type EV |
Average efficiency 3.5m/kWh |
Cost per mile 6p |
Annual cost (7,500 miles) £430.71 |
Annual savings with an EV N/A |
|
Fuel type Petrol |
Average efficiency 36 MPG |
Cost per mile 17.6p |
Annual cost (7,500 miles) £1,320.45 |
Annual savings with an EV £889.74 |
|
Fuel type Diesel |
Average efficiency 43 MPG |
Cost per mile 15.5p |
Annual cost (7,500 miles) £1,162.27 |
Annual savings with an EV £731.56 |
Fuel prices taken from UK government data. EV costs taken from Zapmap, based on 80% home, 10% fast, 10% rapid charging. (Average price/kWh – home EV tariff 8p, fast 57p, rapid 80p.) Data taken from NimbleFins.
On the cost-per-mile metric, EVs deliver notable cost savings compared to petrol and diesel on an annual basis. This is particularly important for owners looking to reduce their long-term expenses.
Also, when considering the whole life cost of a vehicle – not just the upfront price but everything you’ll spend over your ownership period – EVs offer a clear financial advantage. This includes fuel, maintenance and other costs.
EVs also have mechanical advantages
Built for efficiency, EVs have fewer moving parts than petrol or diesel cars, meaning less wear and lower servicing costs. Regenerative braking – a technology that captures some of the kinetic energy lost during braking and converts it back into electrical energy – helps extend battery life while reducing brake wear.
Many EVs receive software updates wirelessly, so your car stays up to date without a trip to the garage. The sealed battery units inside EVs require little maintenance. Some manufacturers, like Tesla, even claim their systems never need fluid changes.
For individuals focused on long-term cost control, EVs represent a future-proof solution.
Article published June 2025