An electric vehicle’s average lifetime ownership cost in the UK is £52,133 ($65,750), compared to £53,625 ($67,636) for an equivalent ICE car, according to a new study from UK insurance company Direct Line.
So on average, based on purchase price and ownership costs over 14 years, an EV would cost £3,752 a year over the course of its life, compared to £3,858 for an ICE car, resulting in an annual savings of £106 ($132) per year.
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