Why compare EV and gasoline costs?
Electric vehicles (EVs) generally have higher purchase prices but significantly lower operating costs than gasoline-powered cars. Fuel is one of the largest ongoing expenses of vehicle ownership, and comparing electricity rates with pump prices reveals the magnitude of potential savings.
Because electric motors are far more efficient than internal combustion engines, the energy cost per mile driven is usually a fraction of the cost of gasoline, even in areas with high electricity rates.