EV, Hybrid or Petrol? A Simple 5-Year Total Cost Comparison

The question today's car buyers ask most often is whether an EV really is better value than a hybrid or a petrol car. The honest answer: it depends on how you drive, and above all on how many kilometers you cover each year. The Total Cost of Ownership model published by ttb analytics via Thai PBS in June 2026 makes this picture very clear.

Comparison assumptions

The model assumes a new car priced at around 830,000 baht, owned for 5 years, and compares four vehicle types: battery electric (BEV), plug-in hybrid (PHEV), hybrid (HEV) and internal combustion (ICE). It accounts for the vehicle price, energy costs, maintenance and other expenses over the ownership period.

Low mileage: 10,000 km per year

• BEVs and PHEVs have similar total costs of around THB 680,000, or about THB 13.6 per kilometer
• ICE and HEV models have a total cost of around 580,000–630,000 baht, or roughly 11.6–12.7 baht per kilometer

For low-mileage drivers, the energy savings of an EV are not yet large enough to offset other factors, so an EV is not the cheapest option in pure numbers.

High mileage: 30,000 km per year

• BEVs have the lowest total cost at around THB 750,000, or about THB 5 per kilometer
• HEV and PHEV models come in at around 770,000–850,000 baht, or roughly 5.2–5.7 baht per kilometer
• ICE vehicles are the most expensive at around 960,000 baht, or roughly 6.4 baht per kilometer

As mileage increases, electricity costs per kilometer well below fuel costs, plus maintenance with no items such as engine oil changes, make the EV clearly the best-value choice. In this scenario, the difference compared with a petrol car exceeds 200,000 baht over five years.

Factors that may change your results

• Main charging source Charging at home on off-peak overnight rates is usually cheaper than DC fast charging at public stations
• Fuel prices In 2026, domestic fuel prices have risen due to the situation in the Middle East, further strengthening the advantage of electric vehicles
• Vehicle price and incentives EV 3.5 subsidies and each brand's promotions affect the upfront cost
• Insurance and resale value These vary by model and brand and should be factored in as well

Another point worth considering is that cost per kilometer is an average over the entire ownership period, including the purchase price paid on day one. Choosing a model whose size and battery capacity match your actual needs, without paying for more than you require, is just as effective a way to reduce total cost as choosing the right powertrain.

In short, if you regularly drive long distances — for example, living in Ayutthaya and commuting daily to Bangkok or an industrial estate — an EV is likely to offer the best value over the long term. Lower-mileage drivers should weigh convenience and personal preference alongside the numbers.

The Motor Creation team would be happy to calculate your total cost of ownership based on your actual mileage and driving habits, and to compare EV models from Deepal, Geely, Riddara and Farizon. You are warmly invited to visit our showroom for advice and a test drive.