THUNDER BAY – A new report from Clean Energy Canada, titled “The Scenic Route”, has found that Canadian EV drivers are enjoying significant savings on fuel costs this summer road trip season. The study, which compares the cost of owning an electric vehicle (EV) to a gas-powered car, reveals that EV drivers are effectively paying the equivalent of $0.40 per litre of gasoline.
The report highlights substantial cost differences on popular road trip routes. A Montreal to Toronto trip costs four times more in a gas-powered car ($70) than an EV ($17). Similarly, a Vancouver to Kelowna trip is almost six times pricier with gas ($57 vs. $10), and an Edmonton to Calgary drive costs twice as much using gasoline ($32 vs. $17).
Over a 10-year ownership period, the report finds that EVs save drivers around $30,000, or $3,000 annually, compared to equivalent gas-powered cars. This takes into account fuel savings, as well as other expenses such as purchase price and maintenance costs.
“Many electric alternatives are now cheaper upfront when rebates are factored in,” the report states. It examines four vehicle types—hatchbacks, sedans, SUVs, and trucks—and finds that the electric sedan and truck are already more affordable at purchase. While the electric hatchback has a higher initial cost, it breaks even after just two months of driving, and the electric SUV takes 4 years and 8 months to reach cost parity, but still proves to be the most economical choice over a standard ownership period.
With most electric cars on the market now boasting a range of over 400 kilometers, taking scenic routes is not only feasible in an EV but significantly more cost-effective.
Key Findings:
- The report assumes each vehicle is owned for 10 years, driven 20,000 kilometers annually, and (for gas cars) fuelled with $1.60-per-litre gasoline (the 2023 national average).
- Choosing a Chevrolet Bolt over a Toyota Corolla Hatchback saves $28,500 over 10 years.
- Choosing a Volkswagen ID.4 over a Honda CR-V saves $28,500 over 10 years.
- Choosing a Tesla Model 3 over a Lexus ES saves $38,000 over 10 years.
- Choosing an F-150 Lightning over a gas-powered F-150 yields the most savings: $40,000 over 10 years.
