Nobby Cybergoat
Well-known member
- Jul 19, 2021
- 8,754
You're right of course, but it's the up front money which in current economic times, not enough people have.Was busy typing it all up in between work meetings. Completely forgot I hadn't finished that end bit.
Of course, I wrote all that and never mentioned (because Mr Bean didn't mention it) the other big myth: that EVs are more expensive. They're still more expensive up-front (although it's coming down as competition in the market builds), but for those who can afford to invest that up-front the "total cost of ownership" is already much lower. Although iirc the study I saw used a 7-year time period, and Mr Bean cites average ownership being 3 years (but that's via leasing, where the up-front investment is much reduced).
3 years back when I was researching my current EV (on a 4 year lease) I ran the sums. At the time I was commuting 4 days a week, 130 miles per day, using a 2016 Prius (via company car perk). My company had decided to stop facilitating company cars (due to govt changes in BIK tax) and instead give us a cash equivalent (PAYE taxed...). My Mrs was using a Ford Focus Ecoboom ... sorry, Ecoboost ... that with just 45k miles on the clock had already needed significant work done for free by Ford post warranty due to fundamental design flaws in the cooling system. So decision was made to buy out the Prius at end of contract (still have it today) as it was cleaner and more reliable than the Focus. And I ran the sums on private lease of an EV. Over 4 years, at the mileage I was doing at the time, the total cost of ownership of going EV was (just) lower than investing in ICE or hybrid.
That's something worth keeping in mind: the cost effectiveness (and environmental benefits) of choosing an EV over an ICE improves with the more miles you do. ICE continues to increase total GHG emissions with every mile driven at a far faster rate than an EV, especially in countries with a highly green electric grid. With EV's there's the sunk cost in production, but that means with every mile you do the GHG emissions "per mile" driven goes down rapidly.
If I had £30k I would love an electric car and it would make economic sense for me to get it, but I don't have anything like that, so the fact that it's a good deal is a moot point