New electric vehicles (EVs) now cheaper than petrol: comment

“This news comes at a moment when interest in EVs is surging as drivers look to move on from paying the rocketing pump prices resulting from President Trump’s war in the Middle East. Prior to the conflict, EVs already offered annual savings of over £870 - a figure that has jumped to over £1000 since the conflict started. [2]

“This is a major moment in the shift to net zero emissions as clean technology becomes the cheap technology, cutting bills and carbon emissions. With EVs now cheaper to buy than a regular petrol car, and interest in them soaring, the Government has an opportunity to reduce the UK’s dependence on volatile oil markets by accelerating its transition to vehicles that are increasingly powered by electricity generated in British wind and solar farms. Given it’s an international market, more drilling for oil in the North Sea has no real impact on the price paid at the pump.

“There has been strong lobbying from parts of the industry to weaken the ZEV mandate policy, which has increased competition between manufacturers and helped drive down prices, but it’s clear this would leave drivers paying higher bills and jeopardise the UK’s energy independence.”