Cost Comparison: Running an MG4 EV vs. Petrol Car – Savings Explained

Cost Comparison: MG4 EV vs. Petrol Car

1. Electric Vehicle Cost

   • Model: Assume MG4 64kWh

   • Charging Costs:

     • Charge Rate: €0.08/kWh (between 2 am – 6 am)
     • Energy Used at Night: 28kWh
     • Cost for Night Charge: €2.24
     • Usable Battery Capacity: 61.7kWh
     • Range Per Full Charge: 450km
     • Distance Covered for Night Charge: ~200km
     • Cost per 100km: €1.12

   • Full Charge Cost:

     • Remaining Energy Needed: 33.7kWh
     • Cost for Additional Charge: €5.06
     • Total Cost for Full Charge: €7.30
     • Average Range Achieved: ~400km per full charge
     • Annual Mileage: 14,000km
     • Full Charges Needed: 35
     • Total Annual Cost: €255
   • Fast Charging:
     • Additional Monthly Charge (one fast charge): €21.75
     • Annual Fast Charging Cost: €261
     • Total Annual “Fuel” Cost: €516

2. Petrol Vehicle Cost

   • Model: Comparable Volkswagen Golf 1.5 TSI
   • Fuel Economy: 5.5 liters/100km
   • Annual Mileage: 14,000km
   • Total Petrol Needed: 840 liters
   • Average Petrol Price: €1.73/liter
   • Annual Petrol Cost: €1,453

3. Savings

   • Annual Savings by Choosing MG4:
     • Cost of Petrol Vehicle: €1,453
     • Cost of MG4: €516
     • Annual Savings: €937

4. Additional Benefits of MG4

   • No need for oil changes or oil filters.
   • Lower maintenance costs; electric vehicles have fewer moving parts.
   • Electric cars may wear tires faster but are gentler on brakes.
5. Considerations
   • Potential depreciation of electric cars can vary. Prices are stabilizing in some markets.

In summary, running an MG4 EV is significantly cheaper than operating a similar petrol car, with annual savings of €937. Additionally, the MG4 requires less maintenance, making it a cost-effective option in the long run.