Electric vehicles (EVs) are often hammered for being too expensive compared to petrol and diesel cars. But the Generate Media team was covering the launch of the most comprehensive and eye opening report seen to date. Electric Vehicles UK officially shattered a myriad of myths – revealing that a massive 80% of drivers would save money by switching to an EV.
The recent event was attended by a host of leading experts—including Lorna McAtear (National Grid), Roger Atkins (Electric Vehicles Outlook), Quentin Willson (FairCharge), Dan Caesar (EVUK), John Rainford (JOLT), Jordan Brompton (myenergi), and Ben Nelmes (New Autocar). The findings were unveiled to the knowing nods of approval from a packed audience at Octopus Energy HQ, proving to all the naysayers that driving electric is more affordable than ever.
How Much Can You Save by Driving Electric?
One key takeaway from the report is the average savings of £5,000 when comparing an EV to a petrol or diesel car. Unlike previous cost comparisons that only look at upfront purchase prices, this study examined 480 different real-world scenarios, factoring in:
✅ Charging costs – Including home, public, and solar charging
✅ Vehicle purchase price – Both new and used electric cars
✅ Maintenance and servicing costs – EVs have fewer moving parts, so much easier to maintain and this means lower upkeep costs
In 80% of cases, an EV came out as the cheaper option overall.
Why This Report is a Game-Changer
Conflicting narratives around EV costs can leaving a trail of confused consumers, so this study provides independent, data-backed evidence that EVs are the smarter financial choice for most drivers.
Industry veteran Quentin Willson shares our frustration and he highlighted the importance of factual reporting around EVs:
“We are deluged with media stories that create confusion, but this report brings everyone together—automotive, energy, and consumer voices—to provide the real facts.”
Meanwhile, myenergi Co-Founder Jordan Brompton, an early EV adopter, admitted even she was surprised by the numbers:
“I’ve always known EVs were cheaper, but I’d never actually crunched the numbers. Seeing a £5,000 saving in black and white is astonishing!”
Affordable EVs Are Here—And They’re Here to Stay
Another common misconception is that EVs are only for those with deep pockets. And with rising living costs that would mean fewer and fewer of us. However, all is not lost as the market is evolving at a rapid pace, with many used EVs now available for under £10,000.
Lorna McAtear, a fleet expert from National Grid, noted that we’re at a tipping point:
“There’s no turning back now. EVs are no longer just premium vehicles—they’re accessible, affordable, and the savings are undeniable.”
Time to Cut Through the Noise
Despite the clear financial benefits, some media outlets continue to push outdated narratives about EV costs. As Dan Caesar from Electric Vehicles UK put it:
“It’s up to independent organisations—like Generate Media, Electric Vehicles UK, and even upstarts like Octopus—to cut through the misinformation and tell the truth: EVs are cheaper, cleaner, and here to stay.”
Final Thought: See the Savings for Yourself
The best way to decide if an EV is right for you? Do the maths. Research charging costs, look at total ownership expenses, and compare deals on new and used models.
With fuel prices rising and more affordable EVs entering the market, one thing is crystal clear: driving electric is not just better for the planet—it’s better for your wallet too.
Would you consider switching to an EV now that you know the true cost? Let us know in the comments!
