EVs twice as expensive to service than petrol

Electric vehicles are more than twice as expensive to service and repair compared to petrol cars, according to a study by predictive analytics firm, We Predict.

It found that service costs for EVs in the first three months of ownership average $123 (€105), 2.3 times more than petrol-powered vehicles ($53/€45) and nearly triple those for hybrid vehicles ($46/€40).

However, the EV to petrol ratio lowers to more than 1.6 after a year in service. By the second year We Predict found that the cost to repair EV decreased 65 per cent.

We Predict’s study is based on a sample size of 19 million vehicles between the 2016 and 2021 model years.

James Davies, CEO and founder of We Predict claims that as an electric vehicle gets older, the cost of keeping the vehicle in service actually becomes less than keeping a ICE vehicle on the road.

“It looks like the EV costs are actually very front-loaded,” explained Davies. “Once you get through the launch of a vehicle and get through the first three to six months it’s just about trying to figure out how to fix the problems you have. Those costs begin to come down precipitously.”

Other factors causing service and repair of EVs to be expensive include unfamiliarity to some technicians, meaning more time is spent on the vehicle.

The study showed that in some cases technicians take double the time to diagnose an electric vehicle issue when compared to a petrol vehicle.