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Study: Electric cars undercut petrol and diesel on total cost of ownership Share New LV= Electric Car Cost Index calculates that EVs can deliver cost savings compared to their internal combustion engine counterparts Can electric vehicles (EVs) already undercut petrol and diesel models on cost? That is the question prompted by the latest edition of the Electric Car Cost Index from insurance giant LV= General Insurance, which suggests that on a total cost of ownership basis EVs are already the most cost effective option. Analysts have predicted that EVs should be able to compete with internal combustion engine vehicles on upfront costs from the mid-2020s, but there is growing evidence that zero emission vehicles lower fuel and maintenance costs means that depending on mileage they can boast a lower total cost of ownership than their polluting equivalents.

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