Fuel prices driving switch to EV

September 17, 2024

Half of internal combustion engine (ICE) drivers are now considering the switch to electric vehicles (EVs) due to the rising costs at the fuel pump, according to new research from Octopus Electric Vehicles.

The survey revealed that once drivers make the move to battery power, they’re unlikely to go back, with 96% of respondents stating their next car will also be electric.

As fuel prices in the UK climb above £1.45 per litre again, EV drivers are enjoying the benefits of lower running costs, with charging as low as 7p per kilowatt-hour (kWh).

Over a third (34%) of petrol and diesel drivers cited these lower running costs as their primary motivation to switch to electric. However, existing EV drivers reported that their top reasons for making the switch were environmental impact (55%), having the latest technology (41%), and, of course, the cheaper running costs (40%).

Public charging infrastructure in the UK is also receiving positive feedback, with 79% of EV drivers reporting a good overall experience. Home charging remains the most common, with two-thirds of charging being done at home, and 88% of drivers taking advantage of specialist low-cost EV tariffs.

Fiona Howarth, CEO of Octopus Electric Vehicles, highlighted the growing readiness of UK drivers:

"This research is clear – almost half of the UK’s drivers are ready to get an electric car today, and yet they make up less than a quarter of the cars being sold.

"Certain laggard car manufacturers may claim drivers aren’t ready for EVs, but they underestimate UK drivers’ appreciation for the value, fun, and peace of mind electric cars offer.

"Government policies like the ZEV Mandate are critical to keep driving the manufacturers to bring affordable electric cars to UK drivers. Those manufacturers are grabbing market share, and there’s a race on to be the brands of our future roads."

At EVC Solutions Ltd, we’re here to help you see what’s possible. The shift to electric isn’t just about cost savings - it’s about embracing a sustainable future with cutting-edge technology.

If you want to know more about anything to do with EV charge point installation for your hotel, place of work, commercial building, fleet vehicles, farm, holiday let or home, please contact EVC Solutions – The Electric Vehicle Charging Specialists, and see what's possible.

Adrian Cooper
Business Partnering
EVC Solutions Ltd

... see what's possible.

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