A recent study by Clean Energy Canada is starting to make waves as it provides the actual cost of owning an EV.
The study compared gas and EV versions of similar vehicles or the same car if they could find it.
The comparisons were in upfront costs, fuel, maintenance and repair, and taxes, insurance and other costs.
In general, the upfront costs were cheaper on the gasoline side. While fuel, maintenance and repair were very much weighted towards the EVs. Taxes, insurance and other costs were a bit of a toss-up.
The comparison is pretty straightforward using the 2022 Hyundai Kona, which has both a gas and fully electric version.
The Kona gasoline version:
Retail Price- $24,055
Total Ownership price- $71,131
Vehicle cost per km driven- $0.44
The Kona electric version
Retail price- $45, 851
Total ownership price- $56, 038
Vehicle cost per km driven- $0.35
Those numbers represent a 27 per cent difference between the gas and electric versions of the Kona.
Although we should note that these numbers are based on a gas average of $1.35 per litre, however, if gas prices would increase to $2.00 per litre, gas pricing would be roughly $79,900 over the life of the vehicle and a $24,000 increase over the $1.35 per litre.
At least say, you can almost buy an entirely new car for the savings!
You can check out the full report from Clean Energy Canada here.