Electric cars are already cheaper to own and run, says study (opens in new tab)

(theguardian.com)

14 pointsDomreiRoam7y ago13 comments

13 comments

I've been very disappointed in the lack of aftermarket battery and bms replacements for older electric and hybrid vehicles. It seems like I should be able to jump on Alibaba and get a giant li-ion battery bank + bms and drop it in a 2005 prius and have a cheap, relatively high-range vehicle.

thorwasdfasdf7y ago

I ran the numbers for here in CA. Even just comparing Gasoline pump cost vs Electric charging costs, the electrics are roughly equivalent to a car that gets 45mpg. Maintentance is of course cheaper for electrics because they don't need oil changes or timing belts or spark plugs but that doesn't mean electrics don't have expensive maintenance plans attached if sold as Teslas.

Right now Electrics still cost about 10K more than their gasoline counterparts.

Overrall, I still think a Toyota Prius with 55mpg will be cheaper to run overrall than an Electric, taking into account total cost of ownership.

foxyv7y ago

Yeah when the Leaf first came out I was checking against CA power rates. CA electricity is so prohibitively expensive I would have had to get a solar installation just to afford charging my car. Ended up sticking with my old 90' Honda Civic that got 35 mpg

woodandsteel7y ago

The key thing to remember is that EV's are going to keep getting cheaper due to decreases in the battery costs, while ICE's are going to stay the same. From what I have read, the experts think that around 2022-25 EV's are going to equal ICE's for purchase price, and at that point the whole market is going to tip. The only thing slowing down EV sales will be how fast the auto manufacturers can switch over what they produce.

titanomachy7y ago

This seems to assume that everyone is buying new cars.

Are people who buy new cars generally concerned about which option is "cheapest"?

dragontamer7y ago

Whatever is cheapest today will likely result in the cheapest car in 5 years.

Electric cars are new, there aren't many electrics in the used market. In 2024, these electric vehicles will be 5-years old, and their used prices will start propagating towards the general public (who in my view, doesn't typically buy new cars).

vanattab7y ago

>Whatever is cheapest today will likely result in the cheapest car in 5 years.

Maybe but I could also see electric vehicles not being the cheapest option with used cars do to the cost of battery replacement. I am not an expert in cars sales or electric vehicles but my understanding is that currently batteries make up a huge cost of an electric vehicle. We also know how battery performance degrades over time. If your in the used car market and your choice is between an electric car with 1/2 the range it had new so 120 miles or so, and $10,000 to replace the batteries or an ice vehicle with an engine with 150,000 miles on it but still full range and if the engine fails a $2000-$3000 engine rebuild price some day. If I am strapped for cash and trying to feed my family I know what I would do.

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willio587y ago

This is what I’m really excited for. To buy an electric car for under 10k with a good battery included in that price is just barely doable if you’re looking in the right places for early Nissan leafs, bmw i3s, etc right now. Imagine in a 4-5 years when you can be out the door with one for 7k, 6k. It could actually become the intelligent decision to buy a used electric over a used gas car due to the lack of moving (and breakable) parts.

testtesttest7y ago

If the maintenance costs are low enough. Replacing battery packs is not going to be cheap. It costs about $3000 USD to replace the battery pack in a Prius (I assume all electric cars will cost more). Generally the pack has to be replaced between 5 and 10 years depending on use.

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kingnothing7y ago

We're there today. You can already buy used Nissan Leafs for under $10k in the US. BMW i3s can be had for under $20k.

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