Electric vehicles save UK motorists more than £41,000 in a lifetime, research claims

Making the switch to an electric vehicle could save British motorists over £41,000 in their lifetimes, new research is claiming.

Data from energy supplier EDF Energy says the average driver spends more £56,458.88 on fuel during their lives — with EV charging in the same period costing £15,021.44.

The company came to this fuel cost figure assuming consumption of 51.7mpg over 8,000 annual miles, at a price of 125.4p per litre, and a life expectancy of 81. For EV charging, it based the total on an electricity rate of 8.01p per kWh, with an equivalent consumption of 2286 kWh per year.

The firm also surveyed 2,000 motorists, finding 84 per cent feel fuel is too expensive. Sixty-eight per cent believe they will own an EV at some point in the future — though just 24 per cent of that figure expect that change to be within the next five years.

Drivers also appear to be limiting their journeys as a result of high fuel prices, with 24 per cent of respondents claiming refuelling costs have stopped them driving somewhere in the past. Further still, 21 per cent say they've cut back on holiday road trips too.

Béatrice Bigois, MD of customers for EDF Energy, said: "Many of us aspire to own an electric vehicle. This research shows that, not only will electric cars help motorists save money on their fuel costs, electric vehicles will help more people do more of the things they want to, like exploring more of the UK – all while helping the environment by reducing emissions."