Jan 16, 2024 04:22 PM
https://bigthink.com/the-present/are-ele...y-cheaper/
KEY POINTS: While electric vehicles (EVs) have higher upfront costs, proponents claim that they are cheaper to own over their lifetimes due to lower fuel and maintenance costs. A study recently reviewed previous cost-of-ownership studies and then accounted for factors previously left out, including climate, charging behavior, and vehicle type. The results show that, over the long term, small and low-range EVs are generally less expensive to own than gas-powered vehicles. However, larger, long-range EVs are more expensive, while midsize EVs only reach cost parity if government incentives are applied. (MORE - details)
KEY POINTS: While electric vehicles (EVs) have higher upfront costs, proponents claim that they are cheaper to own over their lifetimes due to lower fuel and maintenance costs. A study recently reviewed previous cost-of-ownership studies and then accounted for factors previously left out, including climate, charging behavior, and vehicle type. The results show that, over the long term, small and low-range EVs are generally less expensive to own than gas-powered vehicles. However, larger, long-range EVs are more expensive, while midsize EVs only reach cost parity if government incentives are applied. (MORE - details)