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Tesla has skyrocketed into the stock market this year, breaking record after record. At the same time, Sweden’s Northvolt is building a large factory on the outskirts of Skellefteå that will manufacture batteries for electric cars in what is one of the largest industrial investments in Sweden in recent years.
But a major hurdle has prevented electric cars from becoming people’s cars found in any other garage. The price of the electric car is significantly higher than that of the corresponding gasoline-powered cars.
But now, new research from KTH shows that it may actually be cheaper to own an electric car, at least when you consider the cost over the entire period of use. Reports from Sveriges Radios Ekot,
The research has focused on the total cost, including purchase, service, taxes and fuel, and compared it between different types of cars of corresponding sizes.
I’m not sure it applies to everyone
If you drive at least 1,500 km a year and look over three years, it may be more economical to drive an electric car with lower taxes, cheaper fuel, and an electric car bonus.
Assumptions like depreciation and future fuel costs have been used, so it’s not entirely certain that the statement is true for everyone.
The research also showed that individuals focus heavily on the purchase price when purchasing a car without also taking into account the total cost of owning the car.
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