Total Cost of Ownership reflects all costs associated with the equipment over the lifetime of its use. Even if the unit cost and upfront tooling costs are higher for one supplier, the cost of maintenance and ongoing consumables may be lower, and may result in a lower total cost of ownership versus another supplier. A good example is how Teslas, despite the higher upfront cost versus ICE vehicles, purport to have a lower total cost of ownership because they require less maintenance.
