🕒 Article read time: 3 minutes
Myth number 04 - EVs are way more expensive than petrol or diesel cars
From 2035, new petrol and diesel cars will no longer be sold in the UK and far more of us – for work and for leisure – will begin using electric vehicles.
However, there remains a number of common misconceptions surrounding EVs that still raise concerns. Here, the National Grid bust some of the most common EV myths…
It’s true that products based on new technology do tend to be more expensive for early adopters. But, as they become more mainstream and volumes increase, prices typically come down – mobile phones are a good example of this trend.
EV battery prices are already falling, which helps with this. So we absolutely expect the upfront cost of new EVs to reduce over the next few years. For those looking to buy used rather than new, the current uptick of supply in new EVs will hit the second-hand EVs market sooner than you think.
Auto Express recently reported some second-hand EVs being cheaper than their petrol or diesel equivalents. When considering an electric vehicle, it’s important to look at the ‘whole life cost’ not just at the initial outlay, which means considering its running costs and how well it retains its value.
Even though EVs currently have higher purchase prices, they’re cheaper to run – costing much less than petrol or diesel – even at today’s electricity prices. EVs also have fewer moving parts too, meaning they should also have lower servicing costs.
Incentives may also be available to lower the price of an EV. For example, in America, under the US Inflation Reduction Act, families can receive tax credits for new and used electric vehicles, saving them upwards of $1,000 a year.
In the UK commercial drivers are set to benefit from £120 million in government funding to make the switch to cleaner vans, wheelchair accessible vehicles and taxis easier, faster and cheaper.
On 25 February Future of Roads Minister Lilian Greenwood confirmed that the department is extending the Plug-in van grant (link) for another year, to help van drivers and businesses transition to zero emission vehicles.
The extension will mean businesses and van drivers can receive grants up to £2,500 when buying small vans up to 2.5 tonnes and up to £5,000 for larger vans up to 4.25 tonnes.
The plug-in van grant has helped sell over 80,000 electric and zero emission vans since its launch, as the government continues to back businesses all over the country.
The department is also making it easier to switch to zero emission vans – which can be heavier than their petrol and diesel counterparts despite being of the same size – by removing the requirement for additional training that is currently in place only for zero emission vans but not their petrol and diesel equivalents.
This will help businesses by taking away training costs, cutting red tape and making it easier to hire drivers when operating electric vans.
Published On: 03/03/2025 12:48:37
