Electric car costs: how much does an electric car really cost?
Are electric cars cheaper than combustion vehicles? Read more here about the costs of buying, running and maintaining electric cars.
27.06.2024
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1. Cost comparison – is an electric car really cheaper?
The cost of electric vehicles depends on factors including the model, how you use the vehicle and your place of residence. As a rule:
in the short term, i.e. in terms of acquisition costs, electric cars are usually more expensive than combustion engines.
In the long term, however, electric cars are often cheaper. This is due to lower energy and maintenance costs. You may also receive subsidies (link not available in English) depending on where you live.
Comparing the costs of electric cars and combustion vehicles
The following overview provides an example. It is based on averages and estimates (as of June 2024). (Some of the following links are not available in English.)
| Combustion vehicle | Electric car | |
|---|---|---|
| Acquisition price | E.g. CHF 18,365 for a Peugeot 208 | E.g. CHF 30,119 for a Peugeot e-208 |
| Subsidies and grants | No subsidies | Regional differences |
| Service costs per year | Depending on the vehicle and use | Approx. 20–40% cheaper (source: Energie Schweiz) |
| Energy costs per 100 km | Petrol/Diesel, depending on consumption approx. CHF 10–15 | Electricity, under CHF 6 (source: Energie Schweiz) |
| Insurance costs per year | Depending on various factors | On average 22% cheaper |
| Motor vehicle tax | Depending on the canton and engine output | Tax-exempt in many cantons |
For medium and luxury cars, the long-term cost advantages of electric cars are even greater. According to a study by Energie Schweiz (available in German only), the total cost of an SUV with an internal combustion engine is 83,543 francs. For an electric car in the same class, the total cost is 77,469 francs.
How much does an electric car cost per 100 kilometres in Switzerland?
You can find a list of electric cars (link not available in English) on the Swiss market at eco-auto.info. The list contains information on energy consumption, the energy costs for 100 kilometres and an environmental assessment.
2. Acquisition costs and financing of electric cars
According to a study by Energie Schweiz (available in German only), certain electric cars are currently up to 20% more expensive than combustion vehicles. However, the prices of electric cars are steadily falling. This is due, for example, to technological advances and cheaper battery prices.
There are already cheap electric cars available for under 30,000 francs (list not exhaustive):
| Dacia Spring | CHF 14,400 |
|---|---|
| Citroën ë-C3 | CHF 15,690 |
| Renault Twingo Equilibre | CHF 17,380 |
| JAC e-S2 | CHF 17,689 |
| Smart Fortwo | CHF 23,500 |
| VW UP e-up! | CHF 25,650 |
When you buy an electric car, the same financing options are available as for petrol or diesel cars. The decision depends on your financial situation and how you want to use the vehicle.
3. Grants and subsidies for electric cars
The subsidization of electric cars in Switzerland is regulated by the canton and in some cases the commune. Some cantons offer subsidies when buying a car. Others grant tax benefits or assist in the construction of charging stations.
At Swiss eMobility, you can find an overview of the subsidies for electromobility at different locations (link not available in English). You can also obtain information from your responsible Road Traffic Office.
When you take out car insurance, you currently benefit from various discounts with an electric car, depending on the insurer.
Do I pay less tax for an electric car?
This depends on where you live: most cantons offer a bonus of 25–75% for electric cars or vehicles with low CO₂ emissions. In some cantons, electric cars are even completely exempt from tax.
Others, on the other hand, offer no eco-bonus. Appenzell Ausserrhoden taxes electric cars even higher than combustion vehicles. Here you can find more information about cantonal motor vehicle taxes (not available in English).
4. Depreciation of electric cars
For a long time, the depreciation of electric cars was significantly higher than for vehicles with an internal combustion engine. New figures (link only available in German) show that the remaining values of electric cars have caught up with petrol and diesel vehicles in recent years.
5. Service costs for an electric car
Service costs are between 20–40% cheaper for electric vehicles than for combustion cars (source: Energie Schweiz, not available in English). This is because they contain far fewer moving parts: around 200 instead of 2,000. No oil changes are needed for an electric car. However, some maintenance work, especially on the battery, causes higher costs for electric vehicles.
A regular vehicle service is also necessary for electric cars: software updates are important, tyres, brakes and brake fluid, steering and suspension must be checked as well as the condition of the battery. How often a service is required depends on factors including the manufacturer. In most cases, one service every two years is enough.
You can have ordinary maintenance work carried out in the garage of your choice. However, for the repair or maintenance of the high-voltage system or specific electric car components, you should visit a specialized workshop. Only these specialists have the necessary equipment and appropriately trained personnel.
6. How long do batteries last for electric cars and how much do they cost to replace?
The high-voltage battery of an electric car lasts between 12 and 20 years (link not available in English), depending on use. The manufacturer’s warranty is usually shorter. It is often between eight and 10 years. The costs for repairs are typically between 1,000 and 2,000 francs, plus labour costs. However, repairs are rarely necessary.
A complete replacement of the battery is much more expensive: a new high-voltage battery costs around 6,000 francs for smaller cars, but you should expect costs between 10,000 and 20,000 francs in most cases. Manufacturers therefore usually offer a warranty of eight to 10 years on the electric car battery.
7. How much does it cost to insure an electric car?
You can also save money on insurance with an electric motor. Insurance costs are up to 22% cheaper than for comparable petrol or diesel vehicles. However, check the terms and conditions of insurance carefully. Especially with regard to additional cover for the battery and charging station.
8. Running costs for an electric car
Electric cars are attractive with their lower running costs. The cost per 100 kilometres is less than six francs for electricity (as of May 2024, link not available in English), compared to 10 to 15 francs for gasoline or diesel. As a result, electric cars are not only more environmentally friendly, but also more cost-efficient in the long term.
How much does it cost to charge an electric car?
The cost varies depending on electricity prices as well as where and when you charge your vehicle.
How much does it cost to charge an electric car at home?
The cheapest option at less than six francs per 100 kilometres is a wallbox at home (link not available in English).
With a solar installation, you can even get the electricity for free. Although the initial investment is slightly higher, it’s worth it in the long term. Some cantons or communes offer you financial support to install your own charging station.
How much does it cost to charge an electric car at a public charging station?
At public charging stations, the price is based on the consumption per kilowatt hour as well as the starting and parking fees. The price therefore differs depending on the output of the charging station, the car and cable as well as the size of the battery. Fast-charging stations are more expensive than slower stations. According to TCS, you usually pay between 30 and 40 francs for 250 to 300 kilometres (link not available in English).
Some companies, supermarkets or hotels provide their customers and employees with free charging facilities. Bear in mind that some charging stations require special charging cards or memberships.
Tip: at Energie Schweiz, you can find an overview of all charging stations in Switzerland, and free charging stations are presented on gratis-laden.com (both links not available in English).
Range and use
On a full charge, you can drive between 370 and 470 kilometres with most electric cars (link not available in English). This is more than enough for most people’s daily needs. Before buying, check the manufacturer’s range specifications and compare them with your own needs. Also keep in mind that the range can be significantly lower in winter.
This article was first published on 27.06.2024
