EV fleets now % cheaper per mile

Key Insights for Fleet Managers

• Cost advantage: EV fleets average ~83p per mile, compared with ~91p for ICE (Electrada / RMI).
• Charging economics: home and depot charging hold steady at 8–9p per mile, while public rapid charging still costs up to 23p per mile (Zap-Map).
• Price trend: rapid and ultra-rapid PAYG tariffs have fallen by around 5% year-on-year.
• Infrastructure: more than 8,600 charge points were added in H1 2025, including 136 new rapid hubs across the UK (Zap-Map, SMMT).
• Maintenance and depreciation: fleets report lower servicing spend and improving residual values compared with ICE vehicles.

What this means

The case for EV fleets has shifted from sustainability branding to hard financial logic. Lower running costs, expanding infrastructure, and stabilising tariffs make electrification increasingly attractive. The TCO advantage is already measurable, and it will widen further as the market matures.

EVs are no longer just greener, they are already more cost-effective to run. For fleet managers, the TCO balance has tipped.

Sources

• Electrada / RMI – EV Fleet TCO analysis (2025): electrada.com