Electric Vehicles vs. ICE Cars: Are Electric Vehicles More Expensive to Drive?

When considering whether to drive an electric vehicle (EV) or an internal combustion engine (ICE) car, cost is often a major factor. In this comprehensive guide, we will explore the financial implications of driving an EV, using the author's 2018 Tesla Model 3 LR as an example, and compare it to a similarly powered ICE car.

The Author's Experience with an Electric Vehicle

The author owns a 2018 Tesla Model 3 LR, known for its impressive performance with a 280 Wh per mile electricity consumption. With an average electricity cost of 10 cents per kilowatt-hour (kWh), the cost per mile for this vehicle is approximately 2.8 cents.

For a 300 horsepower car that accelerates from 0 to 60 mph in just 5 seconds, the cost efficiency of an EV is quite remarkable. Here's the math:

Electric cost per mile: 2.8 cents/mile Cost of a similarly powered ICE car: 2 cents/mile

These numbers indicate that an EV like the Tesla Model 3 LR is significantly cheaper to operate, especially when considering the savings on fuel.

Maintenance Costs and Efficiency

ESVs (Electric Vehicles) are generally cheaper to maintain compared to their ICE counterparts. One of the biggest savings comes from the lack of regular oil changes and emission systems found in ICE cars. In terms of fuel costs, EVs are typically more cost-effective depending on where you live and whether you charge at home or on the road.

On average, an EV can cost around half as much in fuel as an ICE car, but the true savings can vary widely based on local electricity prices and driving habits.

Personal Experience with Savings

The author specifically mentions their Tesla Model S outperforming their Toyota Prius in terms of lower fuel costs. However, they also point out that battery replacement costs can be significant after 3-4 years. In this case, the savings from reduced fuel costs may be offset by the high cost of replacing the battery.

Real-World Example: Nissan Leaf

The Nissan Leaf, another popular electric vehicle, has a 30 kWh battery. In the United Kingdom, where the cost of petrol (gasoline) is approximately ￡5.70 per gallon and the average miles per gallon (mpg) for an ICE vehicle is around 35-40 mpg, the equivalent cost of driving on electricity is significantly lower.

Here’s the comparison:

￡5.70 of petrol for an ICE vehicle: 1 gallon ￡5.70 of electricity for an EV: 228 miles

This demonstrates that, in certain regions, electric cars can still provide substantial savings on fuel costs.

Maintaining Savings with EVs

The author also notes that maintenance costs for EVs are generally lower, and they recommend going to a local qualified mechanic for servicing rather than the dealer. This can significantly reduce the overall cost of ownership.

For safety checks such as tire and brake inspections, it is recommended to perform these biannually. These regular checks ensure that your EV remains safe and efficient on the road.

Conclusion

While the initial investment in an EV can be higher compared to an ICE car, the long-term savings in maintenance and fuel costs make EVs a more economical choice in the long run. However, it is important to consider battery replacement costs and other regional factors that can influence the overall cost of ownership.

By carefully considering these factors, you can make an informed decision about whether an electric vehicle is more cost-effective for your needs.