This is why an electric vehicle will cost you more in Ontario than other provinces
CTV
Drivers in Ontario looking to switch gears to an electric vehicle may consider hitting the brakes on the idea following the release of a new report on the cost of ownership.
Drivers in Ontario looking to switch gears to an electric vehicle may consider hitting the brakes on the idea following the release of a new report on the cost of ownership.
The University of British Columbia study found that it’s actually cheaper to own an EV than an internal combustion engine vehicle (ICEV) in some parts of the country, and Ontario is far from the top of the list.
Factors considered in the study included tax rebates and tax rates for EVs, charging costs, typical distance households travel in a region and electricity costs.
The Hyundai Kona was used as the guinea pig for the research, both the gasoline and electric models, and the cost benefits were weighted against the average Canadian auto ownership period of seven years.
The research found that in Ontario, it would cost about $11,000 more to own an EV in that seven-year time frame.
“They’re more expensive up front, but they’re cheaper to run, so it kind of becomes a question of where does the math actually add up,” Bassam Javed, one of the researchers, told CTV News Vancouver in an interview earlier this week. “The more you drive an electric vehicle, the more electric mileage you have so to speak, the more savings you actually accrue over time.”
According to the study, in order for an EV to make as much economical sense as a traditional gasoline car in Ontario, motorists would need to drive at least 88 kilometres a day to achieve cost parity – more than double the distance drivers in the province typically travel.
