Drive Electric and Save Money

“EVs are expensive. Aren’t they only for the rich?”

“Batteries are expensive. What if I need to replace it?”

“Can I afford one?”

Electric vehicles have come a long way in terms of makes and models, driving range, and price. There is a solution for almost every need. Many seasoned EV owners can attest to the lower cost of ownership associated with their vehicles. With fewer moving parts, the absence of combustion, technology like over-the-air updates and issue resolution, and regenerative braking, EVs require a lot less maintenance than the conventional gas or diesel engine vehicle.

Importantly, increased competition across automakers, improved economies of scale, and a growing pre-owned inventory (used EVs), the cost to acquire one has dropped significantly. EVs are now a viable option for many of Hawaii’s households. 

Consumer Reports recently published a study that covered new vehicle pricing, use car pricing, maintenance costs, depreciation/resale, and fueling costs for electric vehicles and how they compared with comparable gas vehicles.

The outcome was very promising. The bottom line is that owning an EV will not only allow us to contribute to clean air and a reduction of greenhouse gas emissions, it can also be good for our pocketbook. 

Image courtesy of Consumer Reports.