Is it really cheaper to own an EV?

[kobayashiGT]

Electric cars are known to be efficiency powerhouses, but how much can you really save?

Charging an electric car will likely cost significantly less than filling up an ICE car with gasoline or diesel. But, how much can you save, and why is it cheaper to run on electrons than liquid fuel?

Before looking at the price comparison, it's essential to understand that the lower ownership costs are not just about electricity versus gasoline prices. Here are some aspects of electric cars that yield lower overall fueling prices. 

Aerodynamics

In typical gasoline cars, aerodynamics are essential but not typically of the utmost concern. Electric cars are different. Since batteries are the most expensive component in most EVs, they require a very slippery drag coefficient to maximize their range.

As explained by AirShaper CEO Wouter Remmerie, a low drag coefficient is the key to allowing your EV to get the most amount of range. "If you double your speed, the aerodynamic force goes up by a factor of four," Remmerie told InsideEVs. Remerie estimated, "you can go 200km/h in a 200 horsepower sports car, but you need 1600 horsepower to go 400 [km/h]."

While these numbers are far higher than typical U.S. highway speeds, it reveals that it's vital to master aerodynamics so EVs can travel on long highway stretches and still attain sufficient range. 

Overall Efficiency

Unlike internal combustion cars, electric cars have the upper hand because they use far less energy. According to the Department of Energy (DOE), a typical gasoline car would have an efficiency (energy to the wheels) of less than 25%. This means that the other 75% of energy would be lost as heat or used in other internal combustion engine systems. Disregarding the benefits of regenerative braking, electric cars have an efficiency of over 65%. The other 35% is energy lost in charging and drive system losses (battery system cooling and heat). 

Regenerative Braking 

In traditional non-hybrid cars, deceleration is primarily done with their friction brakes. This means that lots of kinetic energy is simply wasted as heat. In hybrids and EVs, most braking is done through capturing kinetic energy and transferring it as electrical energy back into the battery pack. With this braking method, electric cars can recuperate energy back into the battery rather than wasting the energy as heat into the surroundings. According to the DOE, a typical EV's total efficiency (factoring in regen) is around 90% in the combined cycle. 

So, How Much Will You Save? 

While most articles will compare two of the best-selling EV and ICE sedans, like the Tesla Model 3 and the Toyota Camry, choosing two closely-sized and similarly-priced cars is far more realistic.

The Toyota Corolla and the Nissan Leaf will be the two contenders in this comparison. The Nissan Leaf is the best-selling electric car that costs less than $30,000, and the Corolla was the second best-selling sedan this August (Car Pro USA).  

2022 Toyota Corolla L (non-hybrid)

• $20,075
• 139 horsepower
• 30 city / 38 highway mpg
• 3.0 gallons / 100 miles
• 436-mile total range

2022 Nissan Leaf S 40kWh

• $27,400 ($19,900 incl. Federal tax credit)
• 147 horsepower
• 123 city / 99 highway mpge
• 30 kWh / 100 miles
• 150-mile total range

To make this comparison fair, we will use the U.S. annual average mileage of 13,476 miles (U.S. Department of Transportation). We will also use the average U.S. home energy rate of $0.1252 per kWh (Electric Choice) and the average regular gas price of $3.285 a gallon, as of December 31, 2021 (AAA). 

For the Corolla, we will divide the total annual mileage of 13,476 miles a year by 100 miles and then multiply that number by 3.0 gallons to get a total of approximately 404 gallons of gasoline used in one year. Multiplying this gas price by $3.285 a gallon, it'll cost about $1,328 each year on gasoline for the Toyota. 

For the Leaf, we'll divide 13,476 miles by 100 miles and then multiply that quotient by 30kWh. In one year of driving a Leaf, it'll use around 4043kWh of electricity. Multiplying this by the average U.S. energy rate of $0.1252 per kWh, the Leaf will only cost $506 a year on electricity. This sum could fall to an even lower value, factoring in free public charging and $250 worth of EVGo credits in partnership with Nissan.

Conclusion

Each year, an electric car like the Leaf could save you $822 in fueling costs over a typical gasoline-powered sedan. In four years of ownership, this value could jump to $3,288, and in eight, you could save $6,576. With rising gasoline prices and an increased emphasis on electric vehicle incentives, now's the time to make the switch!

[RadX]

Sorry hor but gahmen tax increase screws the whole equatiin

 

so imma gonna continue screwing Mother Earth 😂

[kobayashiGT]

1 minute ago, RadX said:

Sorry hor but gahmen tax increase screws the whole equatiin

 

so imma gonna continue screwing Mother Earth 😂

The math is done in US. hahah Singapore different sob story. hahahah.

[RadX]

39 minutes ago, kobayashiGT said:

The math is done in US. hahah Singapore different sob story. hahahah.

Exactly

 

herr is lip svc… no wonder Biden bo chup us

[kobayashiGT]

38 minutes ago, RadX said:

Exactly

 

herr is lip svc… no wonder Biden bo chup us

I believe the manufacturer and the distributor... 

If they still bring in ICE cars to the market and sell means that they dun believe in EV for the current situation. 😂

https://www.sgcarmart.com/news/article.php?AID=26108

Kia Sonet anyone?
😂

 

[Lethalstrike]

29 minutes ago, kobayashiGT said:

The math is done in US. hahah Singapore different sob story. hahahah.

Save ki lan here, to put it crudely in Hokkien coffeeshop talk 😁

Extremely expensive road tax for any EVs above 230kW, Additional Flat Component of $700 from 2023 onwards, EEAI & VES at the end of the day is still deducted from your PARF. So yah, Elon Musk was right to condemn LHL's administration a few years back, saying SG is the best place for EVs, but run by a myopic administration. Actually not myopic lah, our administration is sharper than anyone else. Just that the knife's blade is also directed at our necks 😂

[inlinesix]

37 minutes ago, kobayashiGT said:

The math is done in US. hahah Singapore different sob story. hahahah.

If annual mileage is more than 8k km, definitely there will be saving for Tesla Model 3 vs BMW M340.

Once the road tax formula is tweaked again, the mileage required will increase.

[inlinesix]

5 minutes ago, Lethalstrike said:

Save ki lan here, to put it crudely in Hokkien coffeeshop talk 😁

Extremely expensive road tax for any EVs above 230kW, Additional Flat Component of $700 from 2023 onwards, EEAI & VES at the end of the day is still deducted from your PARF. So yah, Elon Musk was right to condemn LHL's administration a few years back, saying SG is the best place for EVs, but run by a myopic administration. Actually not myopic lah, our administration is sharper than anyone else. Just that the knife's blade is also directed at our necks 😂

In terms of depreciation, Tesla Model 3 Standard is cheaper than BMW 318.

😂

[Lethalstrike]

2 minutes ago, inlinesix said:

In terms of depreciation, Tesla Model 3 Standard is cheaper than BMW 318.

😂

Yes, but the so-called incentives we have here to promote EVs aren't really incentives. The long term plan is still going car-lite, not ICE-lite afterall. Did I already mentioned the electricity tariffs just went up again? 😂

Having said that, I believe in the technology of EVs. Just that over here, mass adoption of EVs isn't going to happen anytime soon. 

[therock]

1 hour ago, kobayashiGT said:

Electric cars are known to be efficiency powerhouses, but how much can you really save?

Charging an electric car will likely cost significantly less than filling up an ICE car with gasoline or diesel. But, how much can you save, and why is it cheaper to run on electrons than liquid fuel?

Before looking at the price comparison, it's essential to understand that the lower ownership costs are not just about electricity versus gasoline prices. Here are some aspects of electric cars that yield lower overall fueling prices. 

Aerodynamics

In typical gasoline cars, aerodynamics are essential but not typically of the utmost concern. Electric cars are different. Since batteries are the most expensive component in most EVs, they require a very slippery drag coefficient to maximize their range.

As explained by AirShaper CEO Wouter Remmerie, a low drag coefficient is the key to allowing your EV to get the most amount of range. "If you double your speed, the aerodynamic force goes up by a factor of four," Remmerie told InsideEVs. Remerie estimated, "you can go 200km/h in a 200 horsepower sports car, but you need 1600 horsepower to go 400 [km/h]."

While these numbers are far higher than typical U.S. highway speeds, it reveals that it's vital to master aerodynamics so EVs can travel on long highway stretches and still attain sufficient range. 

Overall Efficiency

Unlike internal combustion cars, electric cars have the upper hand because they use far less energy. According to the Department of Energy (DOE), a typical gasoline car would have an efficiency (energy to the wheels) of less than 25%. This means that the other 75% of energy would be lost as heat or used in other internal combustion engine systems. Disregarding the benefits of regenerative braking, electric cars have an efficiency of over 65%. The other 35% is energy lost in charging and drive system losses (battery system cooling and heat). 

Regenerative Braking 

In traditional non-hybrid cars, deceleration is primarily done with their friction brakes. This means that lots of kinetic energy is simply wasted as heat. In hybrids and EVs, most braking is done through capturing kinetic energy and transferring it as electrical energy back into the battery pack. With this braking method, electric cars can recuperate energy back into the battery rather than wasting the energy as heat into the surroundings. According to the DOE, a typical EV's total efficiency (factoring in regen) is around 90% in the combined cycle. 

So, How Much Will You Save? 

While most articles will compare two of the best-selling EV and ICE sedans, like the Tesla Model 3 and the Toyota Camry, choosing two closely-sized and similarly-priced cars is far more realistic.

The Toyota Corolla and the Nissan Leaf will be the two contenders in this comparison. The Nissan Leaf is the best-selling electric car that costs less than $30,000, and the Corolla was the second best-selling sedan this August (Car Pro USA).  

2022 Toyota Corolla L (non-hybrid)

• $20,075
• 139 horsepower
• 30 city / 38 highway mpg
• 3.0 gallons / 100 miles
• 436-mile total range

2022 Nissan Leaf S 40kWh

• $27,400 ($19,900 incl. Federal tax credit)
• 147 horsepower
• 123 city / 99 highway mpge
• 30 kWh / 100 miles
• 150-mile total range

To make this comparison fair, we will use the U.S. annual average mileage of 13,476 miles (U.S. Department of Transportation). We will also use the average U.S. home energy rate of $0.1252 per kWh (Electric Choice) and the average regular gas price of $3.285 a gallon, as of December 31, 2021 (AAA). 

For the Corolla, we will divide the total annual mileage of 13,476 miles a year by 100 miles and then multiply that number by 3.0 gallons to get a total of approximately 404 gallons of gasoline used in one year. Multiplying this gas price by $3.285 a gallon, it'll cost about $1,328 each year on gasoline for the Toyota. 

For the Leaf, we'll divide 13,476 miles by 100 miles and then multiply that quotient by 30kWh. In one year of driving a Leaf, it'll use around 4043kWh of electricity. Multiplying this by the average U.S. energy rate of $0.1252 per kWh, the Leaf will only cost $506 a year on electricity. This sum could fall to an even lower value, factoring in free public charging and $250 worth of EVGo credits in partnership with Nissan.

Conclusion

Each year, an electric car like the Leaf could save you $822 in fueling costs over a typical gasoline-powered sedan. In four years of ownership, this value could jump to $3,288, and in eight, you could save $6,576. With rising gasoline prices and an increased emphasis on electric vehicle incentives, now's the time to make the switch!

Bro 

Please do a local comparison, then it's more meaningful. These numbers are not really relevant to us..

Add local tax, local petrol prices, service costs, charging fees, electrical bills etc etc... thank you sir

[kobayashiGT]

2 minutes ago, therock said:

Bro 

Please do a local comparison, then it's more meaningful. These numbers are not really relevant to us..

Add local tax, local petrol prices, service costs, charging fees, electrical bills etc etc... thank you sir

Erm. I don't have friends driving a EV yet thou. So I can't speak for the local market. 😢

[inlinesix]

2 minutes ago, Lethalstrike said:

Yes, but the so-called incentives we have here to promote EVs aren't really incentives. The long term plan is still going car-lite, not ICE-lite afterall. Did I already mentioned the electricity tariffs just went up again? 😂

Having said that, I believe in the technology of EVs. Just that over here, mass adoption of EVs isn't going to happen anytime soon. 

Car-lite definitely is the way policy is shaped around.

This is with the expansion of public transport network.

In terms of incentives, a lot of times, it does not end up in the pocket of car owners.

Nissan Leaf depreciation => 17k

Tesla Model 3 depreciation => 18k

 

[inlinesix]

6 minutes ago, kobayashiGT said:

Erm. I don't have friends driving a EV yet thou. So I can't speak for the local market. 😢

If you guys are serious about doing a story on EV, look for ORANGETHANGS on Tiktok

He drives MG ZS.

[kobayashiGT]

6 minutes ago, inlinesix said:

If you guys are serious about doing a story on EV, look for ORANGETHANGS on Tiktok

He drives MG ZS.

Thanks bro. I will go check him out!

[Mkl22]

i did a quick calculation:

Assuming 20000km a year, petrol @ $2.07 (20% discount), Electricity: $0.25(home charging), $0.45(SP power)

Corolla : 15.6km/L.  gives 1282L of petrol or $2646 in petrol. Roadtax: $742. total: $3388

Leaf: 5.8km/kwh gives 3448kwh. $1551(charge outside) or $862(home charging) + $1260 Roadtax +$700 (tax to normalize with petrol duties)  Total : $3511 (outside) $2822(home)

[kobayashiGT]

29 minutes ago, Mkl22 said:

i did a quick calculation:

Assuming 20000km a year, petrol @ $2.07 (20% discount), Electricity: $0.25(home charging), $0.45(SP power)

Corolla : 15.6km/L.  gives 1282L of petrol or $2646 in petrol. Roadtax: $742. total: $3388

Leaf: 5.8km/kwh gives 3448kwh. $1551(charge outside) or $862(home charging) + $1260 Roadtax +$700 (tax to normalize with petrol duties)  Total : $3511 (outside) $2822(home)

Still got 2 x oil change per year for corolla. ($108/oil change) 🙃

[Meanmachine]

@Lethalstrike I read yesterday those young Turks are camping to get their hand on Hyundai EV with deposit $500/ down, no test drive. Hahaha

[t0y0ta]

3 minutes ago, Meanmachine said:

@Lethalstrike I read yesterday those young Turks are camping to get their hand on Hyundai EV with deposit $500/ down, no test drive. Hahaha

IONIQ 5?