Electric vehicles offer long-term savings over petrol cars

An analysis of the lifetime costs of electric vehicles (EVs) versus internal combustion engine (ICE) vehicles highlights the potential for long-term savings despite higher upfront prices.

One driver in Melbourne reported that while her MG4 EV cost $10,000 more than an equivalent ICE vehicle at the time of purchase, the difference was recouped within two years due to lower running costs. Utilizing home solar panels allowed for nearly free charging, and a two-year service cost only $270.

While high initial costs and a lack of affordable second-hand options previously deterred buyers, the increasing availability of used EVs and rising petrol prices are shifting consumer considerations.