electric vehicles savings

Electric Vehicles Have Lowest Total Cost Of Ownership, Study Finds

It’s no secret that electric vehicles carry higher sticker prices than comparable legacy vehicles (although it’s debatable whether any gas-burner is truly “comparable” to an EV, especially a Tesla). Of course, as any EV booster will tell you, the difference in purchase price is offset by savings on fuel and maintenance, as well as the various tax breaks and incentives that are available.

Cost of Driving Electric Cars

A common misconception is that electric cars are more expensive than their internal combustion engine equivalents. When looking at the total cost of ownership, this just isn’t the case. Furthermore, Forbes reports: “Electric vehicles cost less than half as much to operate as their gasoline-powered counterparts, according to a study of fuel costs released Thursday by the University of Michigan.”