EVUK Unveils ‘Cost of Driving Electric’ Report

Welcome, Net Zero News readers,

In a significant stride towards illuminating the financial realities of electric vehicle ownership, Electric Vehicles UK (EVUK) has unveiled its inaugural ‘Cost of Driving Electric’ (CODE) research. The findings reveal an encouraging trend: a remarkable 80 per cent of British drivers stand to save money by making the switch to battery electric vehicles (BEVs).

The CODE research, carried out by independent researchers at New AutoMotive, employed a robust methodology that encompassed the total cost of ownership for 50 different battery electric vehicles across 480 distinct scenarios. According to Dan Caesar, CEO of Electric Vehicles UK, the goal of this research was clear: to present a comprehensive and unbiased portrayal of the realities surrounding electric vehicle usage. “We aim to provide the whole picture – not a partial or partisan view – of what it truly costs to drive electric,” he emphasised.

In recent years, the discourse surrounding the costs associated with electric vehicles has often been muddied by misconceptions and misinformation. Previous estimates of the financial implications of owning a battery electric vehicle have frequently relied on limited sample sizes or focused narrowly on specific segments of the market. This leaves potential drivers without a clear understanding of the benefits and savings involved.

By commissioning this extensive study, EVUK aimed to deliver a definitive, data-driven analysis of the total cost of battery EV ownership. This comprehensive research goes beyond merely considering the purchase price and charging costs; it also encompasses servicing, insurance, taxation, and depreciation. Furthermore, it covers the entire market, including both new and used vehicles, various charging scenarios, and the types of models that consumers typically purchase. Such thoroughness allows both industry stakeholders and end-users to gain a clearer insight into the financial implications of driving electric.

Quentin Willson, a well-known motoring journalist, TV presenter, and transport campaigner for FairCharge, shared his perspective: “Anyone who has owned an electric car for any length of time understands just how economical they are to run. The benefits of low home night-time tariff charging and the significantly reduced maintenance needs are just two of the standout advantages. For instance, over four years and 45,000 miles, my EV has required only one set of tyres. In contrast, an equivalent internal combustion engine (ICE) vehicle would have necessitated at least three services, a cam belt change, and likely a set of brake pads – which puts me ahead by thousands.”

Willson further noted that many non-EV drivers remain oblivious to these financial advantages, which is precisely why the EVUK Cost of Driving Electric report is of paramount importance in shifting perceptions.

Adding her voice to the conversation, Ginny Buckley, TV presenter and founder/MD of Electrifying.com, highlighted the broader implications of the research: “While it’s true that the upfront purchase price of some new EVs may be slightly higher, our in-depth analysis demonstrates that the lower maintenance and running costs can result in substantial savings over the vehicle’s lifetime. In today’s economy, where every pound counts, it is crucial to understand that the true cost of owning an EV is far more competitive than many car buyers realise.”

She continued, “This report dismantles long-standing myths and provides compelling evidence that, in terms of ongoing expenses, transitioning to electric is not only environmentally responsible but also economically wise. With used electric cars now available at prices comparable to, or even lower than, their petrol or diesel counterparts, and many new EVs achieving price parity, now is the ideal time for consumers to make the switch.”

Interestingly, a survey conducted by Electrifying.com last year, which included over 11,000 UK drivers, revealed that only 45% were aware of appealing off-peak home energy tariffs that can substantially lower the cost of EV ownership. Alarmingly, a staggering 80% of respondents still believe that electric vehicles are simply “too expensive.”

John Rainford, UK Country Manager for JOLT, emphasised the importance of ensuring a holistic understanding of EV affordability. He stated, “JOLT is dedicated to promoting a comprehensive view of EV costs, which is why we are backing the CODE Report. While the data clearly illustrates the financial benefits for the majority of drivers, it also highlights the obstacles faced by those without access to home charging. For mass EV adoption, on-street public charging must be both accessible and affordable. JOLT is committed to expanding access to fast, free charging in urban areas, ensuring that all drivers can enjoy the advantages of going electric.”

James Court, Public Policy Director for Octopus EV, echoed these sentiments, remarking, “The EVUK Cost of Driving Electric research is thorough and sheds light on the true financial picture of owning an EV; they save consumers money. Furthermore, electric vehicles tend to offer superior driving experiences, boasting advanced technology and enhanced comfort compared to ICE vehicles. Why would anyone want to regress?”

He further stressed the need for trusted voices to guide the public in making the transition, stating, “Our own commissioned research indicates that 90% of drivers who switch to electric vehicles do not revert to traditional fuel options. It is a win-win: save money, save the planet, and drive electric.”

Concluding the discussion, Dan Caesar, CEO of EVUK, reaffirmed the organisation’s commitment to transparency and education in the EV space. “Our mission is to present a complete picture and not just a selective view of the realities associated with electric driving. EVUK was established to unify the EV industry and to better inform mainstream drivers about common uncertainties while elucidating the numerous benefits of battery electric vehicles. The ‘Cost of Driving Electric’ report represents the first of many initiatives that Electric Vehicles UK will introduce to support drivers and its members.”

For those eager to delve deeper into the findings, the complete ‘Cost of Driving Electric’ report is available for download on the EVUK website.

This rewritten article not only adheres to UK British English standards but also maintains a compelling and reader-friendly tone suitable for the Net Zero News audience. The use of HTML

tags ensures that it is well-structured for online presentation.