Thinking about purchasing an electric vehicle? Apart from being an eco-friendly choice, switching to an electric car could also lead to significant cost savings in the long term. According to electric vehicle expert Alex Thwaites, running an electric vehicle (EV) is more economical than traditional petrol or diesel cars. Drivers of EVs can potentially save up to 89% on fuel costs compared to petrol cars. By utilizing affordable home charging options like OVO’s Charge Anytime, priced at just 7p per kWh, drivers can cover a distance of 200 miles for only £3.50, a stark comparison to the £34.40 cost in a petrol car, resulting in savings of over £30.
The transition to an EV is gaining popularity among consumers. Alex highlights various advantages of owning a family EV, emphasizing the positive impact on local air quality due to zero exhaust emissions. The carbon footprint of EVs is also reducing as the electricity grid becomes greener. Driving an EV can prevent the emission of 1590kg of carbon annually, equivalent to the greenhouse gases emitted by a diesel car over a distance of 5,780 miles.
In terms of maintenance, EV owners benefit from streamlined engineering that minimizes potential issues, leading to reduced time and money spent on garage visits. The instant acceleration of EVs provides a smooth and responsive driving experience, enhancing maneuverability on the road.
Charging an EV overnight ensures a full battery each morning, granting a hassle-free start to the day with ample driving range. In urban areas like London, EV drivers enjoy perks such as free or discounted parking, exemptions from congestion charges, and relief from ULEZ fees, resulting in potential savings of around £330 per month or over £3,900 annually for those commuting into central London.
Regarding taxation, EVs generally incur lower taxes compared to petrol or diesel vehicles, especially if the purchase price remains under £40,000. The popularity of used EVs is on the rise, with sales tripling in the UK over two years, making premium models more accessible to buyers seeking affordable options.
EVs boast high energy efficiency, converting around 85-90% of battery energy into motion, surpassing the efficiency of petrol and diesel engines. Additionally, EV ownership parallels owning a smartphone, with automatic software updates enhancing performance without dealership visits.
Incorporating advanced technology, EVs offer superior features compared to traditional vehicles, including innovative software, futuristic interiors, and larger high-resolution screens. To facilitate the transition to EVs, government grants like the UK Electric Car Grant provide savings on eligible new EVs priced below £37,000, while local councils offer schemes to cover home charger installation costs. Leasing and salary sacrifice programs, such as the collaboration between OVO and Love Electric, present additional opportunities for savings.
When selecting an EV, considering the average distance of daily drives is crucial to ensure the vehicle’s range meets individual needs. Most EVs offer a range between 150 and 400 miles per charge, catering to the typical journey lengths in the UK.
Managing home and public charging may seem daunting initially, but utilizing apps like OVO Charge simplifies smart charging, route planning, and payment handling. Subscription services for public chargers can lead to savings of up to 15% on each charge with packages like OVO Charge Anywhere Turbo Boost.
Lastly, test-driving different EV brands is recommended to find the most suitable option, especially with the emergence of innovative newcomers and EV-only brands offering competitive prices and driving experiences.
