EVs beat gas cars on running costs in America. Here's the breakdown.
Electric vehicles (EVs) often face myths and misconceptions. Some common claims are that EVs catch fire frequently (false), pollute more than gas vehicles (incorrect), or will leave you stranded (rarely happens). Recently, a major British newspaper contributed another misconception: that EVs are significantly more expensive to operate than gasoline or diesel vehicles. But after diving into the numbers, the truth is more nuanced—and often more favorable to EVs than many assume.
Each month, we analyze popular misconceptions about EVs and put them to the test. This month, we’re tackling a September article from The Times, which argues that EVs are too costly and impractical, ultimately concluding that hybrids are a better choice.
The piece emphasizes the high costs associated with public DC fast chargers (chargers with speeds of at least 50 kW, much faster than standard home chargers). While the newspaper rightly points out that frequent use of DC fast chargers can add up, it may not tell the whole story.
This deep dive into the math reveals that while public fast charging can raise costs, the broader picture still leans in favor of EVs.
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This response highlights some key differences in how electric vehicle (EV) costs apply to U.S. drivers versus those in the U.K. Here’s a breakdown addressing some unique factors for American readers:
To provide a practical illustration, let’s examine the Chevrolet Silverado, a truck available in gasoline, diesel, and electric versions. Here’s how each performs:
Vehicle Efficiency (2024 EPA Figures)
Fuel and Electricity Costs (Current U.S. Averages)
Per-Mile Cost Comparison for the Silverado
This analysis aligns with Times' findings, indicating that fast charging significantly increases costs per mile, particularly for larger vehicles like trucks.
While the data above highlights differences in per-mile costs, these figures are mainly relevant for large trucks, which are less efficient overall. Currently, electric trucks like the Silverado EV are gaining popularity, but their sales remain limited compared to smaller, more efficient vehicles.
According to the U.S. Department of Energy, the average fuel economy for cars in the U.S. market is 24.4 miles per gallon (mpg). Although this average does not specify the efficiency of electric vehicles (EVs), the Tesla Model Y represents a typical EV with an efficiency rating of 3.57 miles per kilowatt-hour (mi/kWh), as measured by the EPA. Here’s a comparison of per-mile costs:
When charged at home, the Model Y costs nearly two-thirds less per mile compared to the average gasoline car. Using a fast charger makes the cost only a penny more per mile than the gasoline average. However, fast-charging exclusively does increase per-mile costs, as follows:
Maintenance costs also favor EVs:
By avoiding expenses like oil changes, coolant flushes, and brake replacements, EVs offer notable long-term savings—even when relying on public charging.
