Total cost of ownership difference between BEV and ICE cars and BEV payback period

Notes

Analysis considers the capital, financing, maintenance, and fuel costs of the vehicle over a five-year ownership period. For ICE options, we considered the most popular ICE model sold in each country and compared it with in that country widely adopted and equivalent car segment battery electric car model. Financial support and subsidies were not taken into account. Fuel economy values for ICE vehicles range from 4.8 to 8.6 litres per 100 km, while for battery electric vehicles they range from 0.15 to 0.20 kWh per km. Annual mileage assumptions ranges from 6 500 km to 17 500 km, based on a review of the literature. The payback period reflects the time required for savings in running costs to offset the higher upfront costs of a BEV.