ChargePoint confronts electric vehicle cost perceptions

ChargePoint has launched its ‘Total Cost of Ownership’ calculator, which it hopes will  confront the myth that electric vehicles are more expensive to own than internal combustion vehicles. 

ChargePoint: research shows drivers believe EV ownership is more expensive than traditional vehicles

ChargePoint is building a fueling network, to help move people and goods on electricity. The ChargePoint cloud subscription platform is designed to provide various options for charging, from home to hospitality, multifamily to workplace, parking to retail, as well as  transport fleets. 

ChargePoint’s research shows that drivers are unwilling to move to driving an EV, due to the perception that total cost of ownership is higher than that of traditional vehicles. 

Results from a recent survey conducted by ChargePoint showed:

• 52% thought an EV is more expensive to own than a petrol or diesel vehicle (this figure sat at 66% for those over the age of 60)
• Those aged 18-42 rightly said petrol or diesel vehicles are more expensive than EVs
• 56% correctly said that an EV would be cheaper 
• In explaining their answer, 60% said that higher energy costs were the reason for why EVs are more expensive, over petrol or diesel vehicles.

Unveiling the economic & environmental advantages of electric vehicles with ChargePoint's Total Cost of Ownership Calculator

The dual threats of inflation and the climate crisis mean it is important to ensure that drivers understand the benefits of driving an electric car, says André ten Bloemendal, SVP Europe at ChargePoint. This is where The ChargePoint Total Cost of Ownership calculator can help. 

“Whilst this study focuses purely on the cost benefits of the average passenger vehicle, savings are also considerable for mass transit and company fleet vehicles. ChargePoint’s 16 years of work in this sector has given us significant insight into the cost savings offered by the move to EVs. With a new generation of lower priced vehicles coming to market in the next 12 months these savings will only increase, benefiting everyone,” said Bloemendal. “The discrepancy between this reality and how expensive people in the UK think EVs are demonstrative of the lack of awareness about EVs and their benefits in the UK. For those in the lucky position of being able to afford a new car today, but who are still feeling the pinch of the cost-of-living crisis, we believe Evs are by far the most cost-effective option for the average driver. This benefit is only going to increase in the coming years as cheaper EVs continue to enter the market.”

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