EV running cost savings reach £960 per year, up £180 from 2025

The annual running cost saving from switching to an electric vehicle (EV) has reached £960, up £180 year-on-year, for drivers able to charge at home.

The Electric Cars: The Facts campaign, run by Autotrader, ChargeUK and the Society of Motor Manufacturers and Traders (SMMT), found that savings have stayed at their highest level since records began in November 2023.

Octopus Electroverse has joined the campaign, which aims to target EV misinformation.

Figures for running cost savings were based on an 80/20 split of home to public EV charging.

The campaign found that the UK now has 122,724 public charging points, up from 120,338 in May.

Matt Davies, founder of Octopus Electroverse, said: “Not long ago, charging away from home felt like a massive hurdle for drivers looking to switch.

“Today, public chargers are everywhere, technology is better than ever, and – when combined with home charging – saving nearly £1,000 a year on fuel makes electric the undeniable choice.

“The biggest barrier left isn’t infrastructure or range, it’s simply a lack of clear information. We’re proud to join ‘Electric Cars: The Facts’ to strip away the hassle, bust the outdated myths, and give drivers the data and confidence they need to go electric.”