Electric car costs: how much does an electric car really cost?
Are electric cars cheaper than cars with combustion engines? Read more about the costs of purchasing, running and maintaining electric vehicles here.
27.06.2024
iStock / AzmanJaka
1. Cost comparison – Is an electric car really cheaper?
The costs of electric vehicles depend, among other things, on the model, how they are used and your place of residence. In general, the following applies:
In the short term, i.e. for the purchase, electric cars are usually more expensive than cars with combustion engines.
In the long term, however, electric cars are often cheaper. The reasons for this are the lower energy and maintenance costs. In addition, depending on where you live, you receive subsidies.
Comparison of electric car costs and the costs of cars with combustion engines
The following overview is for illustrative purposes. It is based on average values and estimates (as of June 2024).
| Combustion-engine car | Electric car | |
|---|---|---|
| Purchase price | e.g. CHF 18’365 for a Peugeot 208 | e.g. CHF 30’119 for a Peugeot e-208 |
| Subsidies & grants | no subsidies or grants | varies by region |
| Service costs per year | depending on the vehicle and how it is used | approx. 20–40% cheaper (Source: Energie Schweiz) |
| Energy costs per 100 km | Petrol/diesel, depending on consumption, approx. CHF 10–15 | Electricity, less than CHF 6.– (Source: Energie Schweiz) |
| Insurance costs per year | depending on various factors | on average 22% cheaper |
| Motor vehicle tax | depending on canton and engine power | tax-exempt in many cantons |
For mid-range and luxury carsthe long-term cost advantages of electric carsare even clearer. According to a study by Energie Schweiz the total costs for an SUV with a combustion engine amount to 83’543 francs. For an electric car of the same class, they are 77’469 francs.
How much does an electric car cost per 100 kilometres in Switzerland?
At eco-auto.info, you will find a list of electric cars on the Swiss market. The list contains information on energy consumption, energy costs for 100’000 kilometres and an environmental assessment.
2. Purchase costs and financing of electric cars
According to a study by Energie Schweiz certain electric cars are currently up to 20% more expensive than combustion-engine cars. However, prices for e-cars are falling steadily. This is partly due to technological advances and lower battery prices.
There are already affordable electric cars costing under 30’000 francs (non-exhaustive list):
| 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 buying an electric car, you have the same financing options as for petrol or diesel cars. Your decision depends on your financial situation and how you want to use the vehicle.
Here, Comparis sets out the advantages and disadvantages of the various financing solutions in detail.
3. Incentives and subsidies for electric cars
In Switzerland, the promotion of electric cars is regulated at cantonal level and, in some cases, at municipal level: some cantons offer subsidies when buying a car. Others grant tax benefits or support the construction of charging stations.
At Swiss eMobility, you will find an overview of subsidies for electric mobility by location. You can also obtain information from your local Road Traffic Office.
When taking out car insurance you can 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 have, for electric cars or vehicles with low CO₂ emissions, a bonus of 25 to 75%. In some, electric cars are even completely exempt from tax.
Others, on the other hand, do not have an eco-bonus. Appenzell-Ausserrhoden even taxes electric cars higher than combustion engines. Here you will find more information on cantonal motor vehicle taxes.
4. Depreciation of electric cars
Depreciation of electric cars has long been significantly higher than for vehicles with a combustion engine. New figures show that the residual values of electric carshave caught up with petrol and diesel vehicles in recent years.
5. Servicing costs for an electric car
The service costs for electric vehicles are between 20 and 40% lower than for combustion engines (source:Energie Schweiz). This is because they contain far fewer moving parts: around 200 instead of 2,000. There is no need to change the oil in an electric car. However, some maintenance work, especially on the battery, can incur higher costs for the electric vehicle.
Regular vehicle servicing 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, among other things, on the manufacturer. Usually, a service every two years is sufficient.
You can have routine maintenance work carried out in the garage of your choice. However, for repairs or maintenance of the high-voltage system or specific electric car components, you should visit a specialised workshop. Only they have the necessary equipment and appropriately trained personnel.
6. How long do batteries for electric cars last and what does a replacement cost?
The electric car’s high-voltage battery lasts between 12 and 20 years, depending on usage. The manufacturer’s warranty is usually shorter. It is often between eight and ten years. The cost of a repair is typically between 1,000 and 2,000 francs, plus labour costs. However, repairs are rarely necessary.
A complete replacement of the battery is significantly more expensive: for smaller cars, a new high-voltage battery costs around 6,000 francs, but as a rule you have to reckon with costs of between 10,000 and 20,000 francs overall.Manufacturers therefore usually offer a warranty of eight to ten years on the electric car’s battery.
7. How much does insurance cost for an electric car?
You also save on insurance with an electric motor: the insurance costs are up to 22% cheaper than for comparable petrol or diesel vehicles.However, check the insurance conditions carefully, especially with regard to additional cover for the battery and charging station.
8. Electric car operating costs
Electric cars stand out thanks to their lower operating costs: the costs per hundred kilometres are under six francs for electricity (as of May 2024), compared to 10 to 15 francs for petrol or diesel. This makes electric cars not only more environmentally friendly, but also more cost-effective in the long term.
How much does it cost to charge an electric car?
The costs vary depending on electricity prices and where and when you charge your vehicle.
How much does it cost to charge an electric car at home?
The cheapest option is under six francs per 100 kilometres using a Wallbox at home.
With a solar power system, you can even obtain the electricity free of charge. Although the initial investment is somewhat higher, it pays off in the long term. Some cantons or municipalities provide financial support for the installation of 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 determined by consumption per kilowatt-hour as well as the start and parking fees. The price therefore varies depending on the power output of the charging station, the car and the cable as well as the size of the battery. Fast-charging stations are more expensive than slower ones: according to TCS, you usually pay for 250 to 300 kilometres between 30 and 40 francs.
Some companies, supermarkets or hotels provide their customers and employees with free charging options at their disposal. Please note that some charging stations require special charging cards or memberships.
Tip: at Energie Schweiz you will find an overview of all charging stations in Switzerland, and on gratis-laden.com you will find free charging stations listed.
Range and use
With a full charge, most electric cars can travel between 370 and 470 kilometres. This is more than sufficient for most daily needs. Before buying, check the manufacturer’s range specifications and compare them with your own needs. And: Note that the range can be significantly lower in winter.
This article was first published on 27.06.2024
