Justifying Cost Premium for EV

[gibbo9000]

I am not sure I have ever read a compelling comparison of EV running cost versus fossil fuel.  I have pondered the maths a few times and never quite get there - did I miss something?

If I consider a Hyundai Kona it has a 64kWh battery that at, say, 25c/kWH costs $16 a charge.  It does around 400 km on that - so around $400 per 10,000km.

The petrol Kona does around 7 litres / 100km which costs around $10.  So that is going to be $1,000 per 10,000km.

The petrol Elite costs around $35k and the EV one around $65k.  I gotta do a lotta km to make that math work?

I know there are other reasons to own one, but that is still a massive gap.

[Marc]

I don't think cost or potential savings alone is the primary reason people buy EVs? In the case of my EV (being a premium offer) then the equation would make no sense at all as far as cost savings. It is a way EV owners justify their purchases to ICE owners though (and maybe themselves?). 

But, I've got a luxury vehicle that in theory is leaving a lot less of a footprint on the environment, especially compared to the 24L/100kms beast I had earlier. 

That said, the running costs are substantially less, and that's actual cash in your pocket - charging only off excess solar power. No servicing - other than tyres and brakes (and with regenerative braking, even brakes last longer). Those savings can add up quickly, particularly if you're into Euro and luxury cars.

[gibbo9000]

2 hours ago, Marc said:

I don't think cost or potential savings alone is the primary reason people buy EVs?

Good points, and well understood from someone who has had a few luxury cars over time. 

I should have prefaced better around the justification for main stream consumer roll out as a viable / affordable alternative to reasonably economical fossil fuel alternatives of the same 'style'.  My argument is pretty basic and should add in servicing costs.  I also understand a desire by power companies for more EVs that charge overnight to help with base load on the grid - and if so perhaps there is an argument for subsidies.  From memory I think it may have been NZ that had government by EV vehicles into their fleet, and then sell them into the consumer market relatively quickly as a way of reducing / subsidising  cost to consumer.

We have an 8 year old Prius V and the economics to change to a new EV are hard to justify while it is still going strong.

[Marc]

1 hour ago, gibbo9000 said:

We have an 8 year old Prius V and the economics to change to a new EV are hard to justify while it is still going strong.

From your perspective in that case yes I can see the cost is hard to justify. We'll need to wait for more competition from other manufacturers to see lower priced EVs, which I reckon is only 2-3 years away max. 🙂