New study reveals shocking cost differences of owning an EV versus a gas car in the US: ‘The conclusion is consistent’
A recent study from educational nonprofit Veloz found a dramatic difference between the cost of driving an electric vehicle and the cost of driving a car with a traditional internal combustion engine (Autoblog) reported — highlighting why there are so many people Switch to EVs.
Not only are EVs more affordable to fuel overall, but that gap can be even greater when you charge your car at home; because a home charging station is more cost-effective than public chargers. According to the research, the cost of fully charging a vehicle with a 65-75 kilowatt-hour battery at home is $12.86 on average.
One Press release Published on Business Wire, Veloz summarized his findings: “Benchmarking is one of the biggest debates in the transportation industry, and the conclusion is consistent: EVs deliver strong economic benefits. In nearly every scenario, EVs cost less fuel and running per kilometer than comparable gasoline vehicles.”
In particular, according to automatic blogWhile it costs an average of 12 cents per mile to drive a vehicle with an ICE, it costs only five cents per mile to drive an EV, or less than half the price. Heavy users can pay off the vehicle’s purchase price in as little as two years and stay ahead for the remainder of the vehicle’s life.
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