Study Finds Electric Vehicles Are More Expensive to Operate Than Gas-Powered Vehicles
Studies have shown that while buying an electric vehicle (EV) may be cheaper than buying a gas-powered vehicle,
the total cost of ownership and operation of an EV may be more than that of a gas-powered vehicle over time.
A study by researchers at Oak Ridge National Laboratory in Tennessee found that, over the course of a vehicle's lifetime,
electric vehicles could end up costing more to maintain than gasoline-powered automobiles.
The study found that EV owners would spend an extra 5% on electricity, +12% on maintenance,
and +33% on insurance compared to those who drove gas-powered vehicles.
Some would-be buyers of electric vehicles (EVs) may be surprised to learn that, over time, their total cost of ownership could be more than that of gas-powered vehicles.