As EV charging availability in the U.S. continues becoming even more ubiquitous, and growing consumer demand in Europe and China overtakes analysts’ projections, a new report finds numerous EVs are cheaper to own than their gas-powered counterparts. Ford’s electric F-150 Lightning costs 17% less to own over its lifetime than the gas-powered F-150 (the best-selling car in the U.S. for decades), the Atlas Public Policy report says. Volkswagen’s electric ID.4. is also 15% cheaper to own than Honda’s CRV, and a Chevy Bolt is 6% cheaper than a gas-powered Toyota Corolla — whether an EV manufacturer has exhausted its tax credits contributes to the smaller savings for cars relative to trucks and SUVs.
Though upfront costs for EVs are still higher than gas-powered competitors, new projections from Bloomberg NEF suggest EVs could be cheaper — even without subsidies — in less than five years. (Cost of ownership: Fast Company; International sales inflection points: Bloomberg $; Charging: AP, Axios, E&E $)