From Tesla's strong entry into the electric vehicle market to the European Parliament voting to approve a new law banning the sale of petrol and diesel cars from 2035, the development momentum of electric vehicles has been rising all the way. Under the policy dividend, major car companies continue to launch electric vehicle models.

But today, when the price of traditional gas vehicles continues to drop and refueling is very convenient, From fuel costs to maintenance, and whether you will save money in the long run, let's take a look together.

*The following calculations are for reference only*

1. Fuel costs

The biggest cost difference between a gasoline and an EV car is refueling and the electricity bill.

For a small and medium-sized gasoline vehicle, the fuel consumption per 100 kilometers is generally around 8~12L of gasoline. We take an intermediate value of 10L. According to the current average price of gasoline of 0.9eur per 1L, the cost per 100 kilometers is about 9 euros;

The fuel consumption of a small and medium-sized diesel engine car is about 5~6L per 100 kilometers, and the average price of diesel is about 1.8eur per 1L. Calculated according to 5L, the fuel cost per 100 kilometers is also about 9eur.

Let's take a look at a small and medium-sized electric car. Generally speaking, the power battery of an electric vehicle is about 70 kWh, and 1 kWh of electricity can usually drive about 6 kilometers. Then the power consumption per 100 kilometers is generally around 16 kWh.

At present, the electricity price per kilowatt-hour for residential electricity in Europe is 0.2~0.3eur. If you just use a home EV charger to charge your electric car, the electricity cost per 100 kilometers is about 4 euros; if you don’t have an EV charger at home, you can only go to the commercial public EV charger to charge, the electricity price per kilowatt-hour is about 0.3~0.4eur for public charging piles, and the electricity fee per 100 kilometers is 5~6eur.

According to the average annual driving of a car of 20,000 kilometers, the fuel cost of a gasoline car within three years is about 5400eur. The cost of an electric car is around 2400eur~3500eur. The cost may be lower if you have installed photovoltaics or other renewable energy generation equipment in your home.

2. Maintenance costs

Buying a car is not a one-time consumption. Due to the wear and tear of various parts of the car, parts maintenance is generally required every 10,000 kilometers.

Generally speaking, the maintenance items of gas vehicles include engine oil, oil filter, air filter, air conditioning filter, brake discs, tires, etc. According to different car brands, the cost of one maintenance ranges from several hundred to thousands of euros.

For electric vehicles, oil and oil filter maintenance can be dispensed with, which can save several hundred euros per year.

From this point of view, within 3 years of purchasing an electric car, compared with a gas car of the same specification, you can save almost 2,500 euros. If you buy an EV charger at home to realize the power consumption in valleys, you can save another sum of money. Of course, if your home electricity comes from self-generated renewable energy, the savings will be even greater.

But when buying an electric car, there are still a few points to pay attention.

1) Electric cars are more expensive to purchase than gasoline cars.

The battery cost of an electric vehicle accounts for as much as 60% of the total cost of the vehicle. Therefore, the price of an electric vehicle is usually more expensive than a gasoline vehicle of the same gear, and it is difficult to find an electric vehicle at a super low price.

2) You need to consider the depreciation expense of the EV.

As far as the current mainstream market is concerned, the three-year depreciation rate of electric vehicles is less than 50%, while that of gasoline vehicles in good condition can reach about 70%. Even some well-maintained luxury cars can generate a premium for used cars, which is a factor that must be considered before buying an electric car.

*Please consult the second-hand trading market for specific depreciation rates*

3) Battery life in electric cars degrades in colder environments

The charging speed of lithium iron phosphate batteries will slow down in cold environments, and fast charging cannot even be performed below 0 degrees Celsius; secondly, the cruising range of automotive power batteries in low-temperature environments generally has a 20% discount. This is the difficulty that most battery companies are currently overcoming.

Due to the decline in user experience brought about by low temperature, it will naturally bring about unfavorable factors such as longer charging time and increased charging costs.

Based on the above considerations, if the environment you live in is not particularly cold, and you don’t consider selling the tram as a second-hand depreciation immediately, electric vehicles can indeed help you save a fortune on fuel costs and car maintenance costs.