How long before an electric car starts paying off? 2022 MG ZS EV vs ZS petrol running costs compared

Your petrol car is cowering in the garage and your wallet has surrendered as a potentially long winter of fuel price discontent hits motorists.

If you own a petrol — or diesel or even LPG — vehicle right now, any escape to an alternative will undoubtedly be costly.

But for new-car buyers, your best options may lie in a selection that barely existed a decade ago — electric or hybrid vehicles.

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If anything will spur along the EV debate it’s the price of petrol, diesel and LPG.

Factor in an affordable EV and you could have a thrifty solution to years of motoring outside of the powerful stings of OPEC.

Consider one of Australia’s cheapest EVs, the Chinese MG ZS EV which is a small SUV ideal for a couple — young or old — who are based in an urban area. It also lends itself nicely to the role of an economical commuter, so suits single occupants as well.

MG also makes the ZS with a petrol engine, creating the perfect opportunity to put the two head-to-head to see how the EV comes up as a worthy alternative during times of high petrol prices.

MG will start to deliver its new ZS EV in the third quarter of this year after asking customers to place an order. Those who do so can get $500 off the MG wall charger, so it’s a decent incentive.

EV buyers should be aware that a home charger is vital as the public infrastructure is still lagging, leading to difficulties in finding a vacant station or one that suits your EV (Tesla chargers don’t fit all other EVs).

The carmaker previously had a limited number of ZS EVs in the market. The facelifted model builds on the interest created by its predecessor.

This year’s MG ZS EV has new styling, a bigger 51kWh battery (for longer range) and introduces a less-expensive Excite variant that will arrive at $46,990 drive-away. There’s also a more feature-rich Essence version for an extra $3000.

By comparison, the petrol-fuelled ZS Excite automatic is $22,490 drive-away. It has the same features as the EV and shares the dimensions, although the battery pack adds about 270kg in weight.

Not that the weight issue is important – the EV whacks out an impressive 105kW/353Nm which makes it surprisingly sprightly. The petrol’s 1.5-litre engine has a comparatively modest 84kW/150Nm.

Cabin space is identical, with room for four adults and a large 359-litre boot for the pram or bicycle or shopping bags, while safety is top-shelf as is the multimedia system.

The ZS isn’t a big car — at 4.3m long it slots in between a Mazda CX-3 and Mitsubishi ASX — so is easy to park and fit into a garage, while being of sufficient size for road presence and driving stability.

It also looks sharp, with stubby styling, wide grille (petrol) or blank expression (EV’s infilled grille), 17-inch alloy wheels and a choice from a bright colour palette.

So, if they look pretty much the same, where’s the big difference?

Fuel costs

The purchase price disparity is the most obvious. At $24,500 difference, it buys a lot of petrol and may be enough to rethink the exercise and stay with a petrol car.

But don’t dismiss the EV just yet. After all, you’ll never have to pay for petrol again!

MG claims the ZS petrol will average 7.1 litres per 100km. From its 48-litre tank, that’s a range of 676km.

Based on driving 12,000km annually and a petrol price of $2.10 per litre, a year on the road costs $1789.

The EV has a claimed range of 320km, which is pretty good and close to the petrol car’s inner-city range.

Recharge at home with a wall charger and you’ll pay about $12 (depending on location and supplier) for a “full tank”. Use a commercial recharge station and that would be about $23 (at 45c/kW/h).

So, to drive for one year or 12,000km, the EV “fuel” bill would be $862 (fast-charge commercial outlet) or $450 at a wall charger at home. We’ll use the at-home figure because that’s what most EV owners prefer.

The difference after a year of commuting is $1339, with the EV being nearly one-quarter of the cost of the petrol ZS to run.

That sounds good. But the purchase price of the EV is a killer. At the purchase price difference, you could run a ZS on petrol for over 13 years before it’s possible to recoup that difference.

Ownership costs

But an EV is much cheaper to service because there’s a lot less parts. A lot less things to go wrong and need replacement.

Yes, that’s true. MG’s capped price service program is a generous program that lasts up to 70,000km or seven years for the petrol and seven years or 140,000km for the EV.

The ZS EV requires servicing every 20,000km or 24 months, whichever occurs first, while the petrol version halves that mileage and time to 10,000km/12 months, making a hard-working petrol ZS likely requiring more than one service a year.

Three years of capped-price service for the EV would equate to $402. The petrol ZS will cost $821, so the belief that EVs are cheaper to maintain rings true.

Each gets a seven-year, unlimited distance warranty with free roadside assistance for the term of the warranty, when serviced correctly. The EV’s battery also carries a seven-year warranty.

Over three years, the EV service costs of $402 added with “refuelling” at $1350 (home charger) totals of $1752, or $584 per year.

Over the same period, the ZS petrol will cost $6188 to run, with $821 in servicing and $5367 in fuel, equating to $2063 per year.

The difference per year is $1479 with the saving firmly in the hands of the EV. Consider the $24,500 purchase price difference and it will take around 16 and a half years of ownership to break even.

Verdict

Is the price of petrol the most important issue when buying a new car? From the scary totem poles displaying the soaring fuel prices at service stations, the bogey man in your wallet may be enough to push you to a smaller car or an EV or hybrid.

But, like us, do the sums. Yes, an EV will cost one quarter to “refuel” than a small SUV but the near-$25k price difference is substantial.

Factor in the service price difference, and use the car predominantly in the city (where the petrol car chews more fuel) and the financial gap between the petrol and the EV narrows considerably.

However, it will take a full 16 years for the price difference to be made up, so it will come down to how long you plan on keeping your car.

Above all, the EV is more powerful, quieter and environmentally more acceptable than a petrol or diesel alternative.