Total Cost of Ownership for electric vehicles includes purchase price, fuel (electricity), servicing, insurance, and depreciation. EVs typically have higher upfront cost but significantly lower running costs.
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Pro Tip
Home charging overnight on an off-peak tariff (rates as low as 7p/kWh) provides the biggest running cost advantage compared to petrol.
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Did You Know?
Norway leads EV adoption with over 90% of new car sales being electric in 2023 - driven by favourable tax treatment, free parking, and ferry access.
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