- iCar V23 Total Cost of Ownership: 5-Year EV vs Petrol SUV Breakdown
- iCar V23 AWD
- Purchase Cost
- 5-Year Energy/Fuel Cost
- 5-Year Service & Maintenance
- Insurance & Registration 5-Year
- Total 5-Year TCO Summary
- Pros & Cons
- Frequently Asked Questions
- Verdict
iCar V23 Total Cost of Ownership: 5-Year EV vs Petrol SUV Breakdown
Understanding the true cost of owning an electric SUV requires looking beyond the sticker price. This 5-year total cost of ownership (TCO) analysis compares the iCar V23 AWD at 66,000 AED with a comparable petrol SUV — the Haval Jolion at 68,000 AED — across purchase cost, energy/fuel, maintenance, insurance and registration. The results show just how much an EV can save UAE buyers over five years of ownership.
Updated August 2026.
| Model | Body Style | Starting Price | Best For |
|---|---|---|---|
| iCar V23 AWD | SUV | 66,000 AED | Adventure-seeking buyers who want dual-motor EV performance with off-road ability. |
| Haval Jolion | SUV | 68,000 AED | Urban families who want a compact, well-warrantied SUV. |
iCar V23 AWD
Starting Price: 66,000 AED
Body Style: SUV
The dual-motor AWD version of Chery's iCar V23, delivering 211 hp and 292 Nm through all four wheels with a 501 km WLTC range. It combines genuine off-road capability with a full ADAS suite, heated and ventilated leather seats, and a 540-degree camera at a price that shames every rival.
Key Highlights
- Dual-motor AWD with 211 hp / 292 Nm, 0-100 in 7.5s
- 81.8 kWh battery with 501 km WLTC range
- Full ADAS: AEB, ACC, LKA, BSD, 540-degree camera
- Off-road mode with hill descent control
- Heated & ventilated leather seats, 8-year / 200,000 km warranty
Best for: Adventure-seeking buyers who want dual-motor EV performance with off-road ability.
Purchase Cost
The iCar V23 AWD starts at 66,000 AED while the Haval Jolion starts at 68,000 AED — a 2,000 AED advantage for the iCar. With a 20 percent down payment and a 5-year auto loan at approximately 4.5 percent APR, the iCar's monthly payment is roughly 1,225 AED versus the Jolion's 1,260 AED. Over 60 months, the iCar saves approximately 2,100 AED in finance charges alone.
UAE banks increasingly offer green-car financing at reduced rates for EVs, which can lower the iCar's APR to as little as 3.5 percent. This would reduce the monthly payment further and increase the iCar's advantage over the petrol Jolion.
The total purchase cost over 5 years — including down payment and all monthly payments — is approximately 75,400 AED for the iCar V23 AWD versus 77,600 AED for the Haval Jolion, giving the iCar a 2,200 AED advantage before factoring in running costs.
5-Year Energy/Fuel Cost
Assuming 20,000 km of annual driving (100,000 km over 5 years), the iCar V23 AWD's 81.8 kWh battery consumes approximately 20.5 kWh per 100 km including charging losses. At UAE off-peak home charging rates of 0.23 AED/kWh, the annual electricity cost is approximately 940 AED, or 4,700 AED over 5 years.
The Haval Jolion's 1.5L turbo consumes approximately 8 L/100 km. At the UAE petrol price of approximately 2.90 AED per litre (Special 95), the annual fuel cost is approximately 4,640 AED, or 23,200 AED over 5 years. This is nearly five times the iCar's electricity cost.
Over 5 years, the iCar V23 AWD saves approximately 18,500 AED in energy costs compared to the petrol Jolion. Even if you use public DC fast charging at higher rates (approximately 0.50 AED/kWh) for 30 percent of your charging, the iCar's 5-year energy cost would be approximately 6,800 AED — still a saving of over 16,000 AED.
5-Year Service & Maintenance
The iCar V23 AWD's electric powertrain requires minimal maintenance: no engine oil, no oil filters, no spark plugs, no air filters and no transmission fluid changes. The primary maintenance items are tyre rotations, brake fluid, cabin air filter and coolant checks. Estimated 5-year maintenance cost: approximately 3,000 AED.
The Haval Jolion's 1.5L turbo petrol engine requires regular oil changes (every 10,000 km), air filters, spark plugs, transmission fluid and coolant services. Estimated 5-year maintenance cost: approximately 8,000 AED.
The iCar's regenerative braking also extends brake pad life significantly, as the electric motor handles most deceleration. Brake pad replacement is typically needed at 80,000+ km on the iCar versus 40,000-50,000 km on the petrol Jolion, saving an additional 1,000-1,500 AED in brake wear over 5 years.
Insurance & Registration 5-Year
Annual comprehensive insurance for the iCar V23 AWD is approximately 3,200 AED, while the Haval Jolion costs approximately 2,900 AED. The iCar's slightly higher insurance reflects the higher value of its battery pack. Over 5 years: 16,000 AED for the iCar versus 14,500 AED for the Jolion.
UAE vehicle registration renewal costs approximately 350 AED per year for both vehicles, totalling 1,750 AED over 5 years each. Some UAE emirates offer reduced registration fees for electric vehicles, which can save an additional 100-200 AED per year for the iCar.
Salik (Dubai toll) costs are identical for both vehicles, so they are excluded from this comparison. However, some Dubai parking zones offer free or discounted parking for EVs, which can save the iCar owner an additional 1,000-2,000 AED per year.
Total 5-Year TCO Summary
Adding up all costs over 5 years of ownership (100,000 km), the total cost of ownership comparison is striking:
| Cost Category | iCar V23 AWD (EV) | Haval Jolion (Petrol) |
|---|---|---|
| Purchase (incl. finance) | 75,400 AED | 77,600 AED |
| Energy / Fuel (5 years) | 4,700 AED | 23,200 AED |
| Maintenance (5 years) | 3,000 AED | 8,000 AED |
| Insurance (5 years) | 16,000 AED | 14,500 AED |
| Registration (5 years) | 1,750 AED | 1,750 AED |
| Total 5-Year TCO | 100,850 AED | 125,050 AED |
| iCar V23 AWD Saving | 24,200 AED | — |
The iCar V23 AWD is approximately 24,200 AED cheaper to own over 5 years than a comparable petrol SUV — a saving of nearly 20 percent on total cost of ownership. This saving comes primarily from dramatically lower energy costs (18,500 AED) and reduced maintenance (5,000 AED), which more than offset the iCar's slightly higher insurance.
Pros & Cons
Pros:
- 24,200 AED cheaper than a comparable petrol SUV over 5 years
- Energy costs are roughly 80% lower than petrol
- Minimal maintenance with no oil changes or spark plugs
- Regenerative braking extends brake pad life
- Potential free/discounted Dubai parking for EVs
Cons:
- Higher insurance premium due to battery value
- Home charger installation may cost 2,000-5,000 AED upfront
- Depreciation is less predictable than established petrol models
- Battery degradation over time may affect resale value
| Specification | Detail |
|---|---|
| Model | iCar V23 AWD |
| Starting Price | 66,000 AED |
| Power | 211 hp / 292 Nm |
| Battery | 81.8 kWh |
| Range | 501 km (WLTC) |
| Monthly Energy Cost | ~78 AED |
| Annual Maintenance | ~600 AED |
| Annual Insurance | ~3,200 AED |
| 5-Year Total TCO | ~100,850 AED |
| Warranty | 8 yr / 200,000 km |
Frequently Asked Questions
How much does the iCar V23 AWD cost to run per month?
The iCar V23 AWD costs approximately 78 AED per month in electricity for 20,000 km of annual driving, based on UAE off-peak home charging rates of 0.23 AED/kWh.
How much does the iCar V23 save over 5 years compared to a petrol SUV?
The iCar V23 AWD is approximately 24,200 AED cheaper to own over 5 years than a comparable petrol SUV like the Haval Jolion, primarily due to lower energy and maintenance costs.
Is EV insurance more expensive than petrol car insurance in the UAE?
Yes, EV insurance is typically 10-15 percent more expensive due to the higher value of the battery pack. The iCar V23 AWD costs approximately 3,200 AED per year versus 2,900 AED for a comparable petrol SUV.
Does the iCar V23 need special maintenance?
No. The iCar V23 AWD's electric powertrain requires less maintenance than a petrol engine — no oil changes, spark plugs or transmission fluid. The main service items are tyre rotations, brake fluid and cabin air filters.
Verdict
The iCar V23 AWD's 5-year total cost of ownership is approximately 100,850 AED — nearly 24,200 AED less than a comparable petrol SUV. The savings come overwhelmingly from energy costs (80 percent lower than petrol) and reduced maintenance, which more than offset higher insurance premiums. For UAE buyers who plan to keep their SUV for five or more years, the iCar V23 AWD is not just the greener choice — it is the financially smarter one.
