When it comes to the cost of powering your Vehicle, the assumption that charging an electric vehicle (EV) is always cheaper than fueling up a gas-powered car is not as straightforward as it seems. A recent study by Anderson Economic Group has turned this notion on its head, revealing that the cost per 100 Miles driven can vary significantly between the two options in the United States.

Breaking Down the Numbers

In the entry-priced vehicle category, which includes popular models like the Nissan Versa, Honda Civic, Hyundai Elantra, Subaru Impreza, and Mitsubishi Mirage. The average cost to fill up with gasoline for 100 purposeful miles is approximately $9.78. Surprisingly, entry-level EVs like the Nissan Leaf and Chevrolet Bolt, primarily charged at home, rack up an average of $12.55 for the same distance. For those EVs charged at stations, the cost jumps to $15.97 per 100 miles.

Moving up to the mid-priced segment, encompassing vehicles such as the Honda Accord, Toyota Camry, Chevrolet Malibu, and Subaru Outback, the tables remain turned. Gas-powered options require around $11.08 for every 100 miles traveled, while competing EVs like the Kia EV6, Tesla Model 3/Y, and Ford Mustang Mach E, charged at home, tally up an average of $12.62 per 100 miles. Using public charging stations increases the cost to $16.10 for every 100 miles.

Luxury Electric Vehicle : A Different Picture

Luxury vehicles, however, offer a different perspective. Filling up a conventional luxury car like the BMW 5-Series, Porsche Macan, or Audi A6 amounts to roughly $17.56 per 100 miles. On the other hand, luxury EVs such as the Porsche Taycan, Tesla Model 3, and Polestar 2 can be charged at home for approximately $13.50 per 100 miles, rising to $17.81 per 100 miles when using charging stations.

Pickup Trucks: An Electric Surprise

When we turn our attention to pickup trucks, a surprising finding emerges. Filling up a gas-powered truck with diesel fuel costs an average of $17.10 per 100 miles. In contrast, an EV pickup, charged at home, incurs an expense of about $17.72 per 100 miles. However, the landscape shifts dramatically when considering charging at public stations, which drives the cost up significantly to an average of $26.38 per 100 miles of range.

Considering the Factors

The study highlights a crucial point – the cost of charging an EV versus filling up a gas-powered vehicle is influenced by a variety of factors. Fluctuations in electricity and gasoline prices play a pivotal role, and the convenience of charging at home versus relying on public stations can impact the overall expense. Luxury EVs present a more appealing economic case, while pickup truck owners should weigh their charging options carefully.

In the ever-evolving landscape of transportation, understanding the true costs of powering your vehicle is paramount. As Anderson Economic Group points out, while some gas-powered vehicles may currently offer a more cost-effective option, the scale could tip in favor of EVs as technology advances and infrastructure expands. The road to sustainable and economical transportation is an ongoing journey, and making informed decisions based on comprehensive analysis will drive us toward a greener future.

Also this applies to the U.S only for now. However, In India petrol and diesel prices are higher and electricity prices are significantly lower. With the immense rise in electricity demand and the increasing costs of petroleum and coal, the price of electricity is inevitably on the rise in India as well.

The post Electric Vehicles More Expensive to Run Than ICE In The US: Study Finds Out! first appeared on Motoroids.