Will I save money by owning an electric vehicle in the long run?

Battery EVs don’t need any petrol or diesel but are instead charged with electricity. The average Australian drives around 12,000km per year and spends around $2,500 on petrol. This equates to around $0.20/km.

On average, an EV travelling 12,000km each year would cost around $500 to charge ($0.04/km). Further savings can be made by an EV user with access to home solar or off-peak tariffs, which could reduce annual energy costs to as little as $200.

It is important for prospective EV owners to consider their driving habits, government incentives, taxes and charging availabilities to fully understand the savings of driving an EV compared to an petrol or diesel vehicle.