They generally list the “average” cost to charge a Tesla at $0.05 aka five cents US per mile. This number is suspect for several reasons- “averages” are just that, and there are different sorts, so where you live and certain other factors will impact how much you pay- in some markets like Japan, parts of Europe, certain islands or some remote cities, electricity can be very costly for example, and some people love places and have income or home energy systems etc. where they can pay a lower cost for power per kWh.
That said- the overall efficiency of your system and and what type of charger and charging you use influence costs as well- “LV1” charging can work out to be an average of around 20-25% cheaper than lv 3 charging for example.
Overall the relationship between the price of fuel and the price of electricity will have the greatest impact on which energy source will cost you less, but the vehicle you drive also factors in. Regardless if a car is petrol or diesel or electric..
.. or “other” fuel type- not all cars have the same efficiency in traveling a given distance for a given amount of power. In other words, a Rivian will likely save significantly on fuel costs over a stock 1967 Camaro with a big block, but a first Gen Nissan Lead might not be much savings compared to a current Gen Prius or a 1976 Honda cvcc civic driven miserly.
So there are factors that influence it but in MOST cases you can expect to pay AT LEAST half as much for fuel per distance traveled in an electric car vs. a petrol powered vehicle in most markets.
The fuel costs may be lower but that does not necessarily mean that the cost of ownership is lower. When we compare the purchase price of new vehicles of similar size and vehicle class- you can often buy a petrol powered or “hybrid” vehicle that is comparable to an EV for half or less the price, a savings that can easily equal $30-50k. When we start to look at insurance rates and especially current interest rates for those…
.. financing cars and not buying outright (most buyers finance..), you need to rack up a pretty significant amount of miles before you’ve made up the difference. The cost break down becomes even more slanted if we include USED cars- for example, many models 3-4 decades old can realistically achieve 30+ mpg without any special modifications and reasonable driving habits. Where traditionally newer model used cars could be had at an average price of $10,000 US in America and older cars in good order could be found for $3000 or so, cheaper if one knew where to look and/or was willing to go without certain modern conveniences or do some cheap home repair work. It’s also the case older model cars are easier to buy cash up front and don’t require and often don’t make sense to get “full coverage” insurance- with a half decent driving record that is $30 a month or less compared to $100-300 a month or more in premiums.
As far as maintenance- there is still upkeep on electric cars, you don’t generally have engine oil changes but often coolant, drivetrain fluids, AC systems, brakes, tires, alignments, and other common services will need performed at the same intervals or similar. More major services like timing belts and such don’t need done on electric cars like most piston engines, but intervals for these things tend to be at least 50,000 miles and can be above 200,000 miles on newer cars. Other than that parts break on cars regardless of power type as they age and see use or abuse. Electric cars WILL need batteries long term, and battery replacement tends to cost between $6000-30,000 USD on most models. Meaning that if one plans to keep a car long term, the value of EV’s tends to decline precipitously as they reached advanced age and the upkeep costs will likely outpace most “conventional” power trains. They are essentially “disposable cars” which doesn’t really support a “green” philosophy.
If we step to intangibles- things we can’t put on a budget sheet- there are many caveats that come with EV ownership. It is generally harder for those who don’t own their own property or live in fairly affluent rental areas to do home charging- those with “street parking” or who have “carports” or cannot do wiring and permanent power stations or live in places where hanging a $2500 piece of electronics outside is a ticket to getting it stolen and such. Obviously EV’s take considerably longer to replenish their driving range than pumping gas takes. EV owners are generally told or parrot a mantra of needing to adjust one’s lifestyle to the vehicle- “take the scenic route,” “plan things out” etc. this obviously doesn’t work for everyone and in all situations and you aren’t likely to see police, fire, emergency response, military, or rural service vehicles converting to mass electric anytime soon because “sorry we didn’t come sooner when you called but it took 20 minutes to fast charge…
.. the truck” doesn’t work well for those people and “stopping mid trip to sight see or eat while the vehicle charged” maybe isn’t in the cards for them. So not just up front costs but other “hidden costs” in money and adaptation to EV life tend to favor people who are more financially well off and who have more structured lives and certain lifestyles. EV do not solve issues of traffic congestion and where parking costs and/or space are at a premium, EV’s general don’t help there much or at all save where artificial preference is given to special “ev” spaces to incentivize EV ownership- which as EV’s become more common these perks will likely decline- as we have seen with tax breaks and “commuter lane” benefits for EV owners.
So it is true that except for a relatively small percentage of people who live in areas and situations where electricity is much more expensive than petrol, even with a $300 electrical bill you will probably save money on fuel with an EV vs. a comparably sized petrol vehicle. Wether you’ll actually save money OVERALL or wether it makes sense for you to own an EV is another matter.
That said- the overall efficiency of your system and and what type of charger and charging you use influence costs as well- “LV1” charging can work out to be an average of around 20-25% cheaper than lv 3 charging for example.
Overall the relationship between the price of fuel and the price of electricity will have the greatest impact on which energy source will cost you less, but the vehicle you drive also factors in. Regardless if a car is petrol or diesel or electric..
So there are factors that influence it but in MOST cases you can expect to pay AT LEAST half as much for fuel per distance traveled in an electric car vs. a petrol powered vehicle in most markets.
The fuel costs may be lower but that does not necessarily mean that the cost of ownership is lower. When we compare the purchase price of new vehicles of similar size and vehicle class- you can often buy a petrol powered or “hybrid” vehicle that is comparable to an EV for half or less the price, a savings that can easily equal $30-50k. When we start to look at insurance rates and especially current interest rates for those…