Electric Cars Are Twice as Cheap to Owning A Gas Vehicle

To purchase an electric car can generally be more expensive than to buy a conventional vehicle. The world’s best-selling EV, the Nissan Leaf, is about $30,000 in the U.S., excluding the federal tax credit for new EVs, worth $7,500. Generally speaking electric cars are twice as cheap to owning a gas vehicle.

Over 2 times lower to run

Electric vehicles (or EV’s) in many cases are dramatically cheaper to run, on average 2.3 times lower than gasoline vehicles. Numbers can vary a lot state to state depending on electricity costs.

The University of Michigan’s Transportation Research Institute prepared this analysis. Figures are based on average electricity and gasoline prices in all 50 states at the end of 2017. In addition, the...

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