Save thousands when you switch to electric!
Switching to an EV could save you thousands- here’s how!
The idea that electric vehicles (EVs) are too expensive to own is quickly becoming outdated. A new study by Electric Vehicles UK and New AutoMotive reveals that making the switch to an EV could lead to major financial savings—on average, £5,850 over the vehicle’s lifetime.
EVs are more affordable than ever.
Once considered a premium option, EVs are now more accessible than ever, particularly in the second-hand market. The study analysed 15 different EV models across 480 real-world driving scenarios, factoring in charging habits, maintenance, and total ownership costs.
The findings? A compelling case for going electric. The research shows that 80% of drivers could save money by switching to an EV, with the typical owner pocketing thousands in savings over time compared to petrol or diesel alternatives.
Charging Habits Matter
Where and how you charge an EV significantly impacts cost savings. The study found that drivers with access to home charging saved money in 80% of cases—making at-home charging the most cost-effective option. But even those who rely solely on public charging still saved money in 58% of scenarios, proving that EV ownership can be affordable regardless of charging setup.
Second-Hand EVs: A Cost-Effective Option
Worried about the upfront cost of a brand-new EV? The second-hand market is proving to be a game-changer. According to the Society of Motor Manufacturers and Traders (SMMT), demand for used EVs is soaring—and for good reason.
The study found that pre-owned battery electric vehicles (BEVs) were cheaper than equivalent petrol cars in 80% of cases. On average, a used EV costs £2,781 less than a comparable petrol-powered car, making it an attractive option for first-time buyers looking to go electric without the premium price tag.
The Road to Net Zero
With EVs now offering significant cost savings, the UK is accelerating toward a more sustainable future. But how quickly will we get there? As more drivers switch to electric and public charging networks continue to expand, the question isn’t if we’ll reach net-zero transport—it’s when.
🚗 What do you think? When will the UK go fully electric?
At Osprey, we’re making the switch to EVs easier by providing reliable, high-speed public charging across the UK. Whether you’re new to EVs or a seasoned driver, our mission is to make charging stress-free, so you can enjoy the benefits of electric driving with confidence.
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