Owning an electric car will be cheaper in 15 years

Electric cars could be as cheap to own as conventional cars within 15 years, according to a new study. The difference between conventional and ultra-low carbon family cars is predicted […]

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By Vicky Ellis

Electric cars could be as cheap to own as conventional cars within 15 years, according to a new study. The difference between conventional and ultra-low carbon family cars is predicted to fall to a tenth, from £5,000 a year to around £500 – £750 by 2030.

The Low Carbon Vehicle Partnership, which spoke with members such as vehicle manufacturers and oil companies to compile the research, puts this down to the falling price of electric cars once batteries and fuel cells get cheaper, as well as lower running costs as they use less or fuels.

The figures are based on the driver owning the car for 4 years and travelling 9,500 miles a year.

The cost of owning a conventional family car for this time is estimated to have risen from £22,500 in 2010 to £25,000 in 2030 because of the need for emission cutting technology.