Saturday, October 12, 2024
Electric VehiclesLatestNews

Cheaper EV running costs converting ICE owners

Half of ICE drivers want to shift to electric vehicles (EV) due to the cheaper running costs as they feel the squeeze at the fuel pump, new research has found.

The findings from an Octopus Electric Vehicles survey also found that once drivers go to battery power they won’t return, with 96% stating their next car will be another EV.

It comes as a litre of fuel now costs more than £1.45 in the UK, but charging can cost as little as 7p a kilowatt hour (kWh). Drivers charging an EV on a clean energy tariff can save up to £1,000 a year compared to a fossil fuel car, Octopus claim.

Just over one in three (34%) petrol and diesel drivers reported lower running costs of electric cars as the main reason for wanting to make the switch. 

The top reasons for EV drivers switching to electric were making a positive impact on the planet (55%), followed by wanting to have the latest technology (41%) and cheaper running costs (40%).

Four in five (79%) EV drivers say they’ve had a good overall experience with public charging in the UK, with a further 13% of respondents saying their experience was neither good or bad.

EV drivers with a home charger say that on average two-thirds of their charging is done at home. And almost all (88%) drivers with a home charger say they make use of a low-cost EV specialist tariff.

EV drivers use a public rapid charger on average just 10 times a month, the research found.

Fiona Howarth, CEO Octopus Electric Vehicles, said: 

“This research is clear – almost half of the UK’s drivers are ready to get an electric car today, and yet they make up less than a quarter of the cars being sold. 

“Certain laggard car manufacturers may claim drivers aren’t ready for EVs, but they underestimate UK drivers’ appreciation for the value, fun, and peace of mind electric cars offer.”

“Government policies like the ZEV Mandate are critical to keep driving the manufacturers to bring affordable electric cars to UK drivers. Those manufacturers are grabbing market share, and there’s a race on to be the brands of our future roads.”

Image from Octopus Electric Vehicles

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