Electric Vehicles Cost Less Than Half As Much To Drive

Jeff McMahon writes in Forbes:

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.

The average cost to operate an EV in the United States is $485 per year, while the average for a gasoline-powered vehicle is $1,117, according to the study by Michael Sivak and Brandon Schoettle of Michigan’s Transportation Research Institute.

In no state is it cheaper to fuel up on gasoline—Hawaii comes closest to parity.

For gasoline cars to catch up to EVs, they would have to improve their fuel economy to 90 miles per gallon in Washington, to 57.6 mpg on average across the states.

Read the full article at Forbes
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