Pointers at Glance
- A recent study from the University of Michigan shows that owning an electric vehicle (EV) is typically cheaper than a gas car, with average savings of around $6,000 over the car’s lifetime.
- The cost of electricity for EVs is much lower than the cost of gasoline, making driving an EV more cost-effective, with an estimated cost of $0.04 per mile compared to $0.10 per mile for gas cars.
Electric vehicles (EVs) are gaining popularity. But many potential EV buyers are still hesitant to switch due to the cost of owning and operating an EV. However, the cost of EVs has been declining in recent years, and the cost of electricity is typically much lower than that of gasoline. In many cases, it can be cheaper to drive an EV than a gas car.
A recent study by the University of Michigan found that the lifetime cost of ownership for an EV is typically lower than that for a gas car.
The study findings include the following:
- The average EV owner saves about $6,000 over the lifetime of the car compared to the average gas-powered car owner.
- The average cost of electricity is about $0.12 per kilowatt-hour, while the average cost of gasoline is about $3.00 per gallon.
- The cost of electricity is a major factor in the savings.
- It costs about $0.04 to travel one mile in an EV, while it costs about $0.10 to travel one mile in a gas-powered car.
Electric cars or electric vehicles (EVs), and gas-powered cars have their own advantages. EVs are powered by electricity, while gas-powered cars are powered by gasoline.
Electric cars have several advantages over gas-powered cars, including:
- Lower operating costs: The cost of electricity is much lower than the cost of gasoline, which can save EV owners a significant amount of money over the car’s lifetime.
- Zero emissions: EVs produce zero emissions, which can help to improve air quality.
- Quiet operation: Electric cars are much quieter than gas-powered cars, which can be a plus in urban areas.
Electric cars/ EVs also have some disadvantages, including:
- Shorter range: EVs have a shorter range than gas-powered cars, so they need to be charged more often.
- Limited charging infrastructure: EV charging infrastructure is still developing, which can make it difficult to find a place to charge your car in some areas.
- Higher purchase price: EVs are typically more expensive than gas-powered cars.
The cost of driving an EV will vary depending on many factors, including the cost of electricity in your area, the distance you drive, and the efficiency of your EV. However, EVs are becoming more affordable, and the cost of driving an EV is often lower than that of driving a gas-powered car.
1. Is it cheaper to drive an EV or a gas car?
Driving an electric vehicle (EV) is cheaper than a gas car. EVs benefit from lower fuel costs due to the lower electricity price than gasoline.
2. How far can an EV go on a single charge?
The range of an EV varies depending on the make, model, and driving conditions. Most EVs range from 100 to 200 miles, but some can go even further.
3. Are EVs safe?
Yes, EVs are safe. They have the same safety features as gas-powered cars and are not at risk of catching fire or exploding.
4. Are EVs affordable?
The cost of EVs has been declining in recent years, and they are now more affordable than ever before.