Electric vs ICE Motorcycles: Cost Compare

Rapid advancement and maturing technologies have elevated modern electric motorcycles to the point where they’ve become a tempting option for even the most traditional rider.

At this point, there is no denying a number of their benefits and advantages in comparison to their internally combusted counterpoints. That instant torque and acceleration provides performance that can match even the quickest conventional bikes. They boast extreme twist-and-go simplicity and resultant ease of use. And they cut down on noise and environmental pollution. That’s just for starters.

All the while, their numerous drawbacks are being systematically rectified, for example, with greater range and quicker charging times offered year after year.

However, whether they actually provide a financial benefit on top of all this is trickier to determine, requiring a somewhat more nuanced analysis.

Initial Investment

With some exceptions, electric motorcycles tend to be more expensive than their ICE counterparts – and sometimes considerably so.

That doesn’t, however, mean they are more expensive when considered more holistically, as we’ll dig into next.

However, there is that initial investment that has to be overcome before any real savings are enjoyed by the electric motorcyclist.

Fuel Expense

This is obviously a big one in the corner of electric motorcycles. Charging costs are extraordinarily low in comparison to the price of gas – somewhere in the range of a five to tenfold difference.

With regular use, over the course of a year, this can result in a four-digit difference.

Additionally, the cost of electricity is far less volatile than that of gas, so you’re less likely to get sticker shock the next time you pull up to fuel up.

That Said…

An electric motorcycle’s battery capacity degrades over time and at some point require that it be replaced. That can effectively wipe out all of those fuel savings in one fell swoop. Battery replacement can prove prohibitively expensive – generally in the thousands of dollars and sometimes nearly as much as that of a new motorcycle.

While most manufacturers offer five-year battery warranties, this fact at once provides peace of mind and a ticking clock.

The prospect of an inevitable battery replacement is a major sticking point for many potential purchasers, and as a result, manufacturers are actively seeking innovative solutions to this issue.

Battery (or motorcycle) subscriptions plans, swappable battery tech, and extended eight-year warranties have all gained traction as of late.

Maintenance Costs

The comparative lack of maintenance and its related expense is another area in which electric motorcycles hold a clear advantage over ICE motorcycles.

Beyond tires, brakes, and drive, electric motorcycles demand very little in terms of regular maintenance. Conventional bikes, meanwhile, require periodic oil changes and have numerous parts – filters, carbs/efi, pistons, valves, etc., that need to be serviced, maintained, and/or replaced at regular intervals.

Depreciation

Meanwhile, ICE motorcycles tend to fare much better when it comes to resale value. The difference can be quite stark – with ICE motorcycles typically holding 60-70% of their value a few years after their purchase in comparison to 40-50% for an electric motorcycle.

The reasons for this are myriad, but, again, the prospect of reduced battery capacity and looming battery replacement is a big one here as well.

The Bottom Line on the Bottom Line

Ultimately, everyone’s situation is unique. There are short- and long-term savings to be had on either side of the electric motorcycle/ICE aisle; which will be accentuated most depends on your individual case. 

Determining which will most benefit you from a financial perspective is going to require you to think about how you ride, how often you replace your motorcycles, and whether you want to purchase or lease, and then break out the calculator and do a little math.

Whichever suits you best, fun and freedom await. So let’s get charged up (or fueled up) and ride.