EV RUNNING COSTS
DIRECT COMPARISON OF RUNNING COSTS PER MILE FOR RUNNING AN ELECTRIC vs HYBRID vs PLUG-IN HYBRID vs DIESEL VEHICLE
Article by Shaun Marnell Director Car n Cab Care
www.carandcab.co.uk INTRODUCTION
FACT: Electric vehicles are not cheap to buy and the bigger the battery the more expensive they become BUT they are cheaper to run, much cheaper to service with have better tax allowances.
Therefore, drivers need to understand if you want an electric private hire and hackney vehicle not to have restrictions on range you will not be able to afford it. Work on what you can do NOT what you cannot do. As long as you are not an airport service and are mainly doing local work in urban areas than an EV is the best vehicle for the job!
Using the Zap Map calculator and EPA MPG guide, I have calculated an average cost per mile for drivers to consider. We appreciate that range can differ subject to weight carried and if lights, heating or aircon are used.
However, if we look at like for like costs, if the electric cost is less than 50p per kw per hour, then the full electric vehicle WINS hands down.
We have all seen the price of fuel fluctuate this past year and so recently has the cost of electricity. Fuel has just started to come down and so will the cost of electric.... read on to find out why.
FACT
The whole world has now no option but to work towards zero emissions and the UK is now on this journey. We are taking control of our own electricity supply; businesses and home owners are investing heavily in solar energy and huge windfarms are being setup nationwide. In the future, the UK will actually have enough renewable energy for our daily needs and any excess will be stored or sold to other countries.
Personally, all the electric in my own house is supplied by solar energy, so it is actually free to charge my vehicles at home; and as from May, Car n Cab Care
70
premises with the exception of our brand new three - car 300kw hyper charger, will be run on solar. In addition, subject to Wirral BC planning, thanks to the massive energy savings made, we will also be offering for the exclusive use of our trade, it is 3 x 25dc rapid chargers totally run by solar in the day and off battery at night. Thereby taking control of both my company’s future and our driver's needs and expenses
EV VEHICLES FOR OUR TRADE
Members of our trade have also embraced change. However, currently there is a North /South divide with drivers down south using more full electric vehicles whilst up north drivers have moved more towards hybrid or plug-in hybrid for larger vehicles.
EV TAX BENEFITS For self-employed drivers the tax allowances each year
are as follows: l 6% off all payments made on diesel l 16% off self-charging hybrids under 100 CO2 l 18% off plug-in hybrids under 50 CO2 l 100% off full electric vehicle
So, finance payments on full electric vehicles are 100% deductible off your weekly profit PLUS road tax is FREE until 2025.
OTHER ISSUES TO CONSIDER
The main issues when considering investing in a full electric vehicle are:
■ Where to charge ■ Cost of charging ■ How long it takes to charge
FACT, if you have a driveway at home AND your electric is not supplied by a card meter OR you have access to a charging station that costs less than 50p per kwh then not only will a full electric vehicle save you money but together with the tax benefits makes it a no brainer.
However, if these charging options are not viable then a self-charging hybrid is a great investment
MAY 2023 PHTM
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