Once you've made the switch to an EV, the cost of fuelling your vehicle should decrease. Charging an EV is currently far cheaper than filling a fuel tank with petrol or diesel. Fully charging an electric car at home costs around £20, based on a typical electric car with a 60kWh battery and range of around 200 miles, at an average cost of 34p/kWh. Travelling the same distance in a small petrol/diesel vehicle costs about £40. A motorway rapid-charge (50KW) will usually cost around £17 for a 30-minute charge, powering an average family-sized car for around 75-100 miles.
Pure EVs are in many ways a lot simpler than conventional petrol or diesel cars. This can make servicing easier, helping to keep maintenance costs to a minimum. In theory, your annual maintenance bill could be up to £300 cheaper, but until local garages get up to speed with EVs, you may have to take your car to a specialist dealer.
You can get a discount on the cost of new low-emission motorcycles, vans, trucks, taxis and wheelchair accessible vehicles funded by the government's 'Plug-in Grant'; the grant is included in the price offered by the vehicle dealer.
Due to their zero- or low-level of CO2 emissions, EVs valued less than £40,000 are exempt from vehicle excise duty (VED/road tax) until April 2025. Road tax on EVs will then change to the standard rate, currently £165 for cars and £290 for vans. Find out more here.
In addition to government tax incentives for EVs, it’s likely that the government’s anti-pollution drive will lead to more towns and cities across the UK imposing an air quality zone. This could lead to more tolls for conventional petrol and diesel vehicles, from which electric vehicles are likely to be exempt.
Next steps on your electric vehicle journey
Here's where to go for more advice on buying electric vehicles and installing charge points.