EVs are more expensive upfront but cheaper to service: Study

According to a study from We Predict, a predictive analytics firm, electric vehicles (EVs) tend to cost more upfront but save owners on maintenance over the long term.

The study found that EVs cost nearly a third less to service over three years of ownership than combustion-engine vehicles.

The We Predict study looked at more than 13 million 2018-model-year vehicles over the first three years. They found that, on average, gas car servicing cost $714, while for EVs, it was $514. However, the service costs for EVs were mainly due to the higher labour costs and diagnostic costs.

We Predict’s study adds to a long list of research confirming that EVs are cheaper to own over the long term than internal combustion cars. Many of these studies point to EVs having fewer moving parts as part of the reason. In addition many of these studies point out that EVs do not require routine maintenance like oil changes.

This latest study echoes a June report from the US Department of Energy. This report noted that EVs cost 6.1 cents per mile to maintain while internal combustion vehicles cost 10.1 cents per mile.

According to We Predict, the top-performing EVs in terms of service costs were the Volkswagen e-Golf, Chevrolet Bolt and Honda Clarity.

Source: Business Insider

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