Other models carrying over from last year’s Driving Your Dollars survey include the BMW i3, albeit with more battery capacity, the Tesla Model S and the Tesla Model X. Mitsubishi’s Outlander PHEV (Plug-in Hybrid Electric Vehicle) also returns and is the only model in the category with a plug-in hybrid powertrain. (RACV followed the Federal Chamber of Automotive Industries standards for vehicle categories, which references the Outlander as an electric vehicle.)
The most affordable EV to own and run is the Hyundai Ioniq Electric Elite. The small hatchback launched in Australia late last year in hybrid, plug-in hybrid and fully electric guise, the latter of which will cost owners an average of $193.05 per week. It also has the lowest purchase price of any EVs currently on sale in Australia.
The figure means that the Ioniq Electric is cheaper to run than all of the petrol-powered medium SUVs in this year’s survey, as well as all of the medium passenger cars, except the Toyota Camry Ascent Sport Hybrid.
The next most affordable EV in Australia is the Renault Zoe Intens with an average weekly cost of $218.08. As with all the cars on the list, the initial purchase price is relatively high ($49,490 before on-road costs), but the cost difference of charging instead of refuelling, as well as lower servicing and maintenance costs, lowers the average considerably.
The Outlander PHEV was third on $243.56, followed by the recently launched Hyundai Kona Electric Highlander on $260.15.
BMW’s i3 120Ah maintained a similar cost to last year with an average of $295.37, but it was pushed to fifth on the list because of the inclusion of the newer, more affordable models in 2019.
By far the most expensive EVs to own and run are the two Teslas, which is a result of their higher price tags compared with the other models in the category.
The Model S 100D sedan will cost $510.54 to own and run. It retails for $141,400 before on-roads. The Model X 100D SUV is priced from $146,000 before on-roads, and has an average weekly cost of $514.36.
With the rollout of EVs gaining pace in Australia, it’s reasonable to expect the average cost of owning an EV will continue to drop.