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Deloitte: EV running costs close to matching diesel

Date: 15 February 2011

The running costs of an electric vehicle could be below those of an equivalent diesel within 12 months, depending on Government incentives, according to Mike Moore, car consultancy director for accounting expert Deloitte.

The firm found that, with the current £5000 Government incentive retained, an electric Nissan Leaf will be cheaper to operate than a VW Golf Bluemotion by early next year, and even if the incentive is removed, EVs will still be cheaper to run than their diesel rivals by the middle of 2014 as increasing fuel costs take hold. The firms also claims that the capital cost of an EV will drop below the Golf around the end of 2014 with the Government subsidy, or be closing in on matching it by 2020.

"I think there is going to be a real drive from corporates to invest in EVs," said Moore, who admitted that there is "nervousness" from the leasing industry when it comes to setting residual values.

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