Sustainability Energy

Finally, here’s the exact cost of owning an electric car vs gas car

Story at a glance:

  • There is a 4-cent difference per mile between owning a gas-powered car and an EV.
  • EVs have lower maintenance costs, making them cheaper than gas-powered cars in their lifetime.
  • One can save $8,000 more on an EV than a gas-powered car over 200,000 miles.

The cost of owning an electric vehicle (EV) versus the cost of owning a traditional combustion engine vehicle has been simplified, and the more affordable options might come as a surprise.

A study from the U.S. Department of Energy has shown that the total cost of traditional gas compared to an EV is about 4 cents per mile, and this includes services such as oil changes, new wiper blades, brake pads or most common cost of maintenance, according to InsideHook.


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A 4-cent-per-mile difference might sound abysmal, but in the long haul, EVs are more economically friendly when it comes to having a lifetime vehicle. 

The average internal combustion engine car today can be expected to last 200,000 miles, according to Car and Driver, which makes maintaining a traditional vehicle about $20,200 and an EV $12,200 — an $8,000 difference.

When it reaches 300,000 miles, the gas cars would cost $30,300 for maintenance and EVs cost $18,300 — a difference of $12,000.

Even a cheaper gas-powered vehicle like the Atlas Cross Sport, a five-passenger SUV, which cost around $31,000 at its lowest, the additional $20,200 after driving for a long period of time makes it more expensive than Volkswagen ID.4 at $40,000.

It all boils down to maintenance.


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