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.