EV Cost of Ownership Calculator

This EV Cost of Ownership calculator will give you a personalised estimate of 'lifetime' cost of owning an electric car of your choice. Simply select your vehicle model, driving information and energy price and a personalised report will be provided which you can email to yourself.

TCO, or Total Cost of Ownership, in EVs refers to all the costs associated with owning an electric vehicle over its lifetime. This includes not only the initial purchase price, applicable government incentives, but also running costs, such as charging, maintenance, insurance, and potential resale value. For example, while the initial cost of a Tesla Model 3 might be higher than a similar petrol car (e.g. Toyota Camry), its TCO could be lower due to savings on fuel and maintenance over time.

Generally, electric cars are cheaper to run and maintain. They are typically more energy-efficient, meaning lower fuel costs (or in this case, charging costs), and their simpler design can lead to lower maintenance costs. For example, an electric car like the Hyundai Ioniq Electric might cost less than $5 to travel 100km, while a similar-sized petrol car might cost around $15.

Whether it's worth it to get an electric car can depend on several factors, including your driving habits, where you live, and your budget. For example, if you often drive long distances in rural areas where charging stations might be scarce, an electric car may not be practical. However, if you primarily use your car for city driving and have access to home or workplace charging, an electric car like the Chevrolet Bolt could offer significant savings and environmental benefits.