Electric Car Vs Petrol Car Cost Per Km

The first thing that comes to buyers’ minds before buying the EV is the cost per km. This is what helps buyers decide if they can afford the specific vehicle or not in the long run.

Apart from this, it is clear that petrol cars consume fossil fuels and contribute to adverse impacts on the environment. This raises the threat for future generations regarding environmental unfriendliness. 

Some eco-conscious people pay attention to this matter of concern. They want to minimize the carbon footprint from their side. This is why they want to emphasize the cost per km of petrol and electric cars.

No worries. This guide will assist you in this regard. Wondering how? Just stick to this guide and find out for yourself!

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Electric Car and Petrol Car – Overview 

Electric cars and Petrol cars are cars with significant differences in their functioning. Petrol cars make use of fossil fuels to facilitate their functioning. Electric cars utilize electricity to reduce their functioning because electricity is the fuel for electric cars. The EV chargers assist in this regard.  

Cost Analysis of Petrol and Electric Cars Per Km

The cost per km of electric and petrol cars depends on multiple factors. Some of the key differences and factors include

Differences in Vehicle Prices

When it comes to electric vehicles, you need to pay a higher price in comparison to the petrol vehicle. The main thing that contributes to the higher cost of these vehicles is the usage of batteries.

But the batteries used in electric vehicles are different from what you experience normally. The price of the batteries is also high that an EV utilizes. These batteries last way longer than normal batteries because of the special technology usage. 

On average, electric vehicles require a premium pay of 25 to 30%. In this regard, you need to pay higher for the insurance as well. 

But with time as the EV demand rises you will experience a decrease in the total cost of the EV. This requires some time from your side.

Running Cost

There lies a clear running cost difference when it comes to EV and Petrol vehicles. For a better understanding, consider this. The per liter price you need to pay for the petrol vehicle fuel lies in the range of £1.78 to £1.63.

This is true for the years 2021 to 2022. The cost per kWh for the electric vehicle you need to pay lies in the range of £0.23 to £0.28 from 2021 to 2022. 

As you continue driving your vehicle for longer, the cost difference rises. For instance, if you drive 100 miles in a petrol car, you need to pay 20 to 22 pounds. But for the electric vehicle, the cost you need to pay is just 5 to 7 pounds. So this thing depicts that running an electric car is much cheaper than you think. 

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Maintenance Cost

Maintenance is essential to keep your vehicle moving. No one can deny whether it comes to the EV or petrol vehicles. Keep reading to uncover why it is important.

The EVs (Electric Vehicles) possess very few and fewer components in comparison to petrol vehicles. This thing reduces the level of complacency with the EVs and lowers the maintenance costs. Although the cost upfront of the EV is far higher, the price you need to face later is far less.

When you compare the maintenance cost of petrol or EVs. You will find out that you need to pay 1/4th less than the petrol vehicle maintenance. Thus, the electric vehicle is far more affordable than the petrol vehicle when it comes to care. 

A smaller number of moving components in the EVs means fewer chances to replace the parts that face wear and tear. However, the maintenance cost for the vehicle body remains the same.

You can acquire an insurance plan to cope with your issues. In case you don’t claim these plans, then you can opt for the Car Insurance No Claim Bonus. This plan gives you a discount starting from 20% per year to 50% for five consecutive years. 

Performance Cost and Efficiency

The main thing that plays a role in this regard is that EVs does not have engine, clutches, or gears. In EVs, there lies only the motor. The motor is responsible for transferring the torque directly to the wheels.

This means you can get much higher torque in EVs rather than in petrol vehicles. This is what adds up to the efficiency and effectiveness of the EV in comparison to the Petrol vehicles. 

Due to the lower number of components, as discussed in the above section. The EV has lower maintenance and running costs.

Because of the lower number of moving parts, you are not going to experience the noise or vibrations as you do in petrol vehicles. This is what adds up to the desirability of the EVs. 

Life of Vehicle

The government of various states or countries has set up specific policies regarding vehicles. For instance, the government suggests dumping their vehicle in a scrap after fifteen years.

The main reason behind this is that after consistent and constant running for fifteen years, the components have ended their lives. 

You need to replace almost all of the components at that time to keep the vehicle running. This is almost impossible for the cars. All of this is true for the vehicles running on petrol. At the same time, this is not true for cars running on batteries or EVs.

The main reason behind this is that the manufacturers offer extensive warranty with their batteries. You can get 6 up to 8 years of contract. This means you only need to change the batteries once in your EVs.

However, this period varies depending on your usage of the vehicle. Apart from this, the batteries cost you 15000 to 20,000 per kWh of output. 

At the same time, there is no strict government policy for dumping your EVs after a specific period. You can keep changing the batteries. This is also because EVs do not adversely impact the environment.

Therefore, in short, you are going to experience a lower cost with the EV rather than the petrol vehicle. While within a few years, you will experience a decrease in the cost of the batteries. 

Click to learn: Cost of EV Charging Stations: Factors, Pricing, and Investment Analysis

Resale Value

The resale value of the vehicles is of prime concern for the buyers. Petrol cars and EVs have a major difference in terms of resale value.

Due to the excessive association of wear and tear and excessive maintenance measures, the resale value of vehicles that run on fossil fuels is lower. With the rapid evolution of technology and model series, the worth of the old automotive models gets lower.

Besides this, the depreciation rates of petrol-based vehicles are far higher. All of this contributes to the lower worth of fossil fuel-based vehicles.

While this is not true for electric vehicles, you can get a higher resale value for these vehicles. The only thing that plays a key role in deciding the overall worth of the EV is the battery condition and output.

Anyone can judge this at ease and make their purchase decision on the go. This is what adds up to the desirability of the EV among buyers.

Concluding Thoughts

Each vehicle, either petrol-based or electricity-based, have feature and characteristics. But when it comes to cost, the Electric vehicle is the clear winner. The only limitation is the EV does not feature wide adoption because of the lack of availability of EV charging stations.

Developed countries do not face this scenario, but rural and less developed countries are facing this. But in the future, electric vehicles take over the world and contribute to a greener revolution.

Related Reading: How 2023 Paves the Way for Electric Vehicle Adoption