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| Hyundai Ioniq EV (Green Car Guide) |
Drive Zero has done the cost of owning Australia’s current cheapest electric vehicle, the Hyundai Ionic EV, compared to the Toyota Corolla Hybrid. The reasoning and calculations are complex and not repeated here. Please go to the cited article below for full details.
The article takes into consideration purchase price; registration (Victoria [and the ACT] give some discount for low CO₂ emission cars), energy consumption; energy price; total energy spent and servicing over 5 years and 150,000 km; and depreciation for the same period. Over that time, the energy, servicing costs and depreciation are less for the EV but the purchase price still makes the Corolla cheaper. However when some factors below are considered, the EV is better value than the Corolla hybrid.
There are other situations to consider such as EVs will be cheaper to run if one owns solar panels [and a solar battery]; they will run mostly on renewable energy in South Australia, Tasmania [and the ACT]. With most charging done at home, it makes it unnecessary to go to a petrol station. The drive is smoother, quieter and more responsive. Petrol prices will most likely go up and electricity prices will most likely go down. The more EVs on the road in cities, the cleaner the air will be. The tipping point for EV/ICE parity is expected around 2022 [Bloomberg predicts 2024]. (ICE=Internal Combustion Engine).
See full details at: Cost of Hyundai Ioniq Electric vs Toyota Corolla Hybrid. Drive Zero, December 16, 2019.
See also these similar articles:
- Tesla Model 3 costs less than a Toyota Camry to own. The Driven, April 18, 2019.
- Toyota Camry & Honda Accord buyers, don’t assume Tesla Model 3 is beyond your budget. (U.S.) CleanTechnica, October 28, 2018.
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