Costs of running an Electric Car

With electric vehicles (EVs) becoming more mainstream, many drivers are considering the switch from traditional petrol or diesel cars. While the upfront cost of an EV can sometimes be higher, the running costs and long-term savings often make the switch a financially smart move. Here are some key factors to consider when comparing EVs to internal combustion engine (ICE) vehicles.

What to consider:

Fuel costs vs electricity costs

One of the most immediate and noticeable savings comes from refueling. Petrol and diesel prices have continued to fluctuate, often landing well above £1.50 per litre in the UK. By contrast, charging an EV at home—especially during off-peak hours—can cost just a few pence per mile.

• Example: A typical EV might cost around 6–9p per mile to charge at home, compared to 15–20p per mile for an efficient petrol car.
• Public charging can be more expensive, but many still find it cheaper than filling up with fuel.

​

Lower Maintenance Costs

EVs have fewer moving parts than ICE vehicles—no oil changes, timing belts, exhaust systems, or fuel injectors to worry about. This translates to less routine maintenance and fewer repair costs over the life of the car.

• Regenerative braking also reduces wear on brake pads, further extending the life of key components.

Tax Benefits

In the UK, EVs come with several tax advantages:

• £0 Vehicle Excise Duty (VED) until at least 2025.
• Company car tax (Benefit-in-Kind) rates for EVs are significantly lower—just 2% in 2025–26, compared to up to 37% for some ICE vehicles.
• Access to grants for home chargers and potential local incentives (like free parking or reduced congestion zone charges) in some areas.

​

Discover your savings by switching to EV

Book an appointment with one of our EV specialists today and we will take you through our EV cost calculator to produce a bespoke saving example based on your lifestyle.

With numerous different factors such as access to home chargers, energy tariffs, amount of mileage etc, this is the best way to get a true representation of how an EV could work with your lifestyle.

Book now

Average EV saving examples

Kia EV3 Air

- ​£1,379.62 saving compared to current car example

- Estimated running cost per year: £604.72​

Discover EV3

Kia EV6 Air

- £1,325.94 saving compared to current car example

- Estimated running cost per year: £658.40

Discover EV6​

Kia EV9 Air

- £1,192.38 saving compared to current car example

- Estimated running cost per year: £791.96

Discover EV9

Saving examples are based on:

- Current car: Petrol car doing 12,000 miles a year based off an average fuel economy of 40mpg, with the average fuel price of £1.45 / litre.

- Kia EV options: 70% = Charging at home with an off-peak tariff (£0.10 per kWH), 20% = Fast Public Charging (£0.60 per kWh) and 10% = Ultra Rapid Public Charging (£0.90 per kWh).

Overview of EV vs ICE - which is more cost-effective

Purpose of the Calculator for EV saving examples:

The Running Cost Calculator is designed to provide users with an estimate of the potential running costs associated with their vehicle. The results generated by the calculator are for illustrative purposes only and should not be considered as financial advice. Users should fill out the form with accurate and up-to-date information to ensure more precise results.

Data Sources:

The estimates provided by the calculator are based on several data sources, which are referenced below:

• Average Miles per Gallon (MPG) for petrol and diesel vehicles are sourced from nimblefins.co.uk/cheap-car-insurance/average-mpg
• Average Petrol/Diesel Cost per Litre are based on the current UK average fuel price as identified by GlobalPetrolPrices.com. Actual prices will vary depending on where you are in the UK, the type of fuel you purchase and other economic factors.
• The electricity default costs are based on the UK average cost of electric per kWh as identified by GlobalPetrolPrices.com. Actual prices will vary depending on the specifics of your home energy contract, where you are in the UK and other factors.
• Public Charging Costs are sourced from zap-map.com/ev-stats/charging-price-index

How we calculate running costs:

The calculator employs specific methodologies and assumptions to estimate running costs. Detailed explanations of these calculations will be provided in the respective sections, as follows:

• Petrol, Diesel and Hybrid Vehicles:

Running cost is calculated by multiplying a vehicle's fuel economy by fuel price and the distance driven.

( (Annual Distance / MPG) * Gallon to Litre conversion ) * Fuel Price

• Electric Vehicles:

Running cost is calculated by multiplying an EV vehicle's battery capacity and range by average of electricity prices based on the selected profile and the distance driven.

[ (Home % * Home Price) + (Standard/Fast % * Standard/Fast Price) + (Rapid/Ultra % * Rapid/Ultra Price) ] * Annual Mileage * (Battery Capacity / EV Range)

Driving Range:

The range was determined according to the standardised EU measurement procedure (WLTP). The individual driving style and other factors, such as speed, outside temperature, topography and the use of electricity-consuming devices/units, have an influence on the real-life range and can possibly reduce it.

Disclaimer:

The car running cost calculator provides estimates that should be used as a general guide only. Actual costs may vary due to factors such as driving habits, fuel prices, and changes in energy tariffs. The accuracy of the results depends on the information provided by the user. The providers of this calculator assume no responsibility for accuracy of the results, or any decisions made based on the information provided.

By using the Car Running Cost Calculator, you agree to these terms and conditions.