There’s a dramatic piece of good news for electric vehicles, but for the moment, it’s balanced on a knife edge.
That’s according to a new study published in the journal Applied Energy, which explains that over four years, the total cost of ownership is lower for electric cars than for gas guzzlers in Texas, California, and the U.K. The analysis, which takes into account purchase price and depreciation, as well as costs like fuel and maintenance, shows a particularly stark difference in the U.K, where cost of ownership for an electric vehicle is 10 percent less than that for a gasoline car.
The results also show that hybrid vehicles are more expensive than their all-gas counterparts in America and the U.K. That’s because while the cars may be more fuel-efficient than a pure gasoline version, their powertrain suffers from the added expense of batteries and electric motors, as well as the upkeep of a conventional fossil-fuel burner.
Don’t settle for half the story.
Get paywall-free access to technology news for the here and now.
