• By The Financial District

Experts Argue Electric Vehicles Are Cheaper In The Long Run

The knock-on effects of the energy crisis are felt everywhere, and it’s a cause for concern for most people – mostly those from lower-income households. It’s left many people wondering what can be done to cut costs during this time, but could electric or hybrid vehicles offer a helping hand? Jenny Mendlicott asked in an article for Euronews.Green.


Photo Insert: The battery engines of EVs are actually designed to outlast the useful life of the vehicle itself and may exceed 20 years in the near future.



Tilmann Vahle and Matthias Ballweg, co-leads of the SYSTEMIQ circular mobility platform, said electric vehicles (EVs) are a boon since their range matches fuel-powered cars but is much higher than that of hybrid vehicles at 350 kilometers on a single charge.


Moreover, they said, the battery engines of EVs are actually designed to outlast the useful life of the vehicle itself and may exceed 20 years in the near future.



“Expenses differ widely depending on the local cost conditions, but electric vehicles are always cheaper to run today than regular fuel-powered vehicles. Fuel costs are always temperamental, whereas electricity costs are more stable. Also, in many EU countries, you can receive subsidies and waivers on certain taxes if you’re purchasing an electric vehicle, reducing the overall costs,” Vahle and Ballweg added.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

As of 2020, any owner of an electric vehicle in the EU is eligible to participate in the carbon credits scheme to help contribute to improving emission standards too. This could save you between €250 and €550 per year.


And due to fewer moving parts and less use of the breaks (as electric vehicles mostly break using induction to charge the battery), they have approximately 60 to 90 percent lower maintenance costs, the experts concluded.



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