A study released by USwitch, a price comparison service, found that Canada offers strong value for money when travelling long distances in an electric vehicle. The study, which asked “Where can you travel the furthest for your money in an electric vehicle compared to a petrol-powered counterpart?” looked at 33 OECD countries and ranked Canada tenth in terms of offering the best value range for electric vehicles. In Canada you can travel 5,511 km for $86.85 CAD (£50) in energy compared to 1,049.45 km for $86.85 CAD in gas, a difference of 4,462 km.
As part of their research, USwitch looked at the performance of the Nissan Leaf E+ and the Volkswagen Golf —two comparable mid-sized hatchbacks. The study focused on countries in which both vehicles are available for consumers to purchase.
The researchers calculated how far a person could travel for $86.85 in both the gas-powered Volkswagen Golf and the electric Nissan Leaf E+, and ranked each country according to how economical they were for EVs. Lithuania ranked first, with $86.85 in energy taking drivers 7,136 km compared to just 850.82 km for the same amount spent in gas, a difference of 6,285 km.
Norway, Austria, Chile and Estonia rounded out the list of the top five countries offering the best value range for EVs. Japan, Spain and Slovenia were the least economical of the countries studied, ranking 31, 32 and 33 respectively. In Slovenia, the Leaf E+ travelled 2,549 km for $86.85 in energy compared to 903 km for $86.85 in gas (a difference of just 1,645 km).
“As the motor industry begins to move away from petrol and diesel, this study shows how economical running an electric car really is,” says Joel Kempson, car insurance expert at USwitch. “Electric vehicles are much cheaper to recharge than the cost of filling up your tank, so even though their tanks won’t take you as far as a petrol car, owning an EV could make better sense for your finances,” he adds.
Kempson also notes that the study did not consider additional savings beyond the cost of fuel that may be associated with driving an EV in each country studied. “Electric cars are currently exempt from vehicle tax, and some councils have savings schemes in place,” he says.
Kempson also predicts that as more consumers switch to EVs, insurance prices will drop. “When it comes to insuring an EV, there is a common misconception that it can be a pricey part of ownership. However, as more motorists opt for an EV, the insurance market will correct itself and we should see prices fall.”
