Total Cost of Ownership of Electric Buses in Europe

This study presents the total cost of ownership (TCO) of battery electric buses across Europe (the EU27 + UK + Türkiye). A comprehensive review of the assumptions and data used for the TCO calculation of buses in the literature is provided, along with calculations of the different bus TCO excluding labor costs, across these countries. The calculated TCO is compared with diesel costs in each country to identify the countries in which bus electrification is financially most competitive. The study reveals that the financial case for bus electrification is strongest in Finland, France, Belgium and Greece (TCOs around €750k to €850k and high diesel costs in the range of €1.70 per liter) and is weakest in Malta, Bulgaria and Cyprus. These results are expected to be of interest for operators, academics, policy makers, and financial investors in bus electrification.