ICE vs EV Total Cost of Ownership Calculator
Compare the total cost of owning an electric vehicle vs a petrol or diesel car over 5 years.
Includes purchase price, fuel, servicing, and depreciation.
How ICE vs EV Cost Comparison Is Calculated
A true apples-to-apples comparison between an internal combustion engine (ICE) vehicle and an electric vehicle (EV) must account for fuel, maintenance, depreciation, insurance, and purchase price.
Annual Fuel Cost Formulas:
ICE vehicle:
Annual Fuel Cost = (Annual km / Fuel Economy L/100km) × 100 × Fuel Price $/L
EV:
Annual Electricity Cost = (Annual km / 100) × kWh/100km × Electricity Rate $/kWh
Worked Example — 15,000 km/year:
ICE: 7.5 L/100km, fuel at $1.65/L
- Annual fuel = (15,000 / 100) × 7.5 × $1.65 = $1,856/year
EV: 16 kWh/100km, electricity at $0.15/kWh
- Annual electricity = (15,000 / 100) × 16 × $0.15 = $360/year
Maintenance Cost Difference (annual average):
- ICE: oil changes, filters, spark plugs, exhaust, transmission: ~$700–1,200/year
- EV: tires, brake pads (lasting longer due to regen braking), cabin filters: ~$200–400/year
5-Year Total Ownership Comparison: Assuming $5,000 higher purchase price for EV:
- Fuel savings: $1,496 × 5 = $7,480
- Maintenance savings: ~$600 × 5 = $3,000
- Net EV savings over 5 years: $10,480 − $5,000 = $5,480 ahead
Break-even typically occurs at 3–5 years depending on fuel prices and driving volume. Drivers who cover more kilometers annually break even faster — someone driving 25,000 km/year may recover the price premium in under 3 years, while a driver covering only 8,000 km/year may take 7–9 years. Always model your actual driving habits before assuming EV savings.
How we build and check this calculator
This calculator runs entirely in your browser, so the numbers you enter stay on your device. The math behind it is written by hand and tested against worked examples and standard references before the page goes live.
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