How expensive are electric vehicles? A total cost of ownership analysis

This paper presents a total cost of ownership (TCO) model for three different car segments. The goal is to investigate the cost efficiency of electric vehicles compared to conventional vehicles. All costs that occur during the expected vehicle's lifespan are included: purchase cost, registration tax, vehicle road tax, maintenance, tires and technical control cost, insurance cost, battery leasing cost, battery replacement cost and fuel or electricity cost. Results are shown per vehicle segment and illustrate the share of all cost components. We find that current electric vehicles are only cost attractive within the premium car segment.