What Are The Benefits Of Electric Cars? | EV – HSBC UK

One of the more noticeable benefits of electric cars is that, with planning and understanding the cost per mile, they cost less to run than combustion-engine vehicles. Even with rising energy prices in late 2022, electricity remains cheaper than petrol and diesel in a cost-per-mile comparison.  

EV drivers also benefit from savings on tax as there’s no Vehicle Excise Duty for pure electric cars. They’re also exempt from the clean air zone charges for driving through London’s Ultra Low Emission Zone (ULEZ). Some towns and cities even offer free parking for electric cars.

You may find you benefit from lower servicing and maintenance costs too. EVs have fewer mechanical components than conventional cars and are less vulnerable to wear and tear. Figures show that just 18% of EVs fail their MoT test at the first attempt, while 20% of petrol vehicles fall at the first hurdle and 23% of diesels suffer the same fate.