The True Cost of Owning an Electric Car: Maintenance and Operational Expenditures

When considering the purchase of an electric vehicle (EV), potential buyers are often concerned with the total cost of ownership. While an EV may have a higher upfront cost compared to an equivalent internal combustion engine (ICE) vehicle, the long-term benefits in terms of maintenance and operational expenses often outweigh these initial costs.

Comparing Maintenance Costs

The cost to maintain an electric car is generally slightly less than that of an ICE vehicle. This is primarily due to the fact that EVs do not require regular oil changes, air filter replacements, or other engine-related maintenance. According to the manual of the Chevrolet Bolt, the only necessary scheduled maintenance includes rotating the tires and filling the washer fluid. Brake fluid changes are needed every 100,000 miles, similar to that of an ICE vehicle.

However, it's important to note that tires for an EV may be slightly more expensive due to the vehicle's overall weight and resulting increased tire wear. As for unscheduled maintenance, EVs have very low costs in this regard because they have simpler mechanical systems. The entire drive train consists of a motor, a single fixed reduction gear, a differential, and four wheels, all of which are permanently lubricated and are expected to last for the life of the vehicle. The only potential unscheduled maintenance cost to consider is brake pad replacement, which is usually significantly lower due to the extensive use of regenerative braking.

Long-Term Costs

A real-life example illustrates how low the maintenance costs can be. Over the past 5 years and 190,000 miles, the author has spent only $20 on maintenance. In the same period, the operational costs (excluding tires, which is a normal expense across all vehicles) were even lower, totaling less than $500.

These numbers highlight the significant savings on maintenance alone. The total cost of ownership for an EV, which includes both maintenance and operational expenses, is generally lower than that of an ICE vehicle. This is a testament to the reliability and simplicity of electric vehicle systems.

Battery Costs

While EVs offer substantial savings on maintenance and operation, their battery systems do come with their own costs. Battery replacement, typically the most significant long-term cost, can vary widely. Prices for a single battery replacement range from $8,000 to over $20,000. Fortunately, today's advanced batteries are designed to last well beyond the typical lifespan of a vehicle; many modern electric vehicles have reported battery lifespans exceeding 200,000 miles.

Considering the extended lifespan of the battery, the frequency of replacement is expected to be low. Assuming the battery lasts as long as the vehicle, the cost per battery replacement would be relatively low compared to the savings on regular maintenance and operational costs. Thus, while the upfront cost of an EV can be higher, the overall cost of ownership is often less when considering the long-term benefits.

In conclusion, while an initial investment in an electric car can be higher, the long-term savings on maintenance and operational expenses make it a cost-effective and environmentally friendly choice. Potential buyers should weigh these factors when making their decision.