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How Much Do Electric Vehicles Cost?

For many consumers, mention the words electric vehicle and they’ll immediately think of Tesla. They may also assume that, even though unquestionably better for the environment, EVs are way out of their price range. But driving electric is a lot more common now, and as this new technology has become more familiar – as well as available from many more companies besides Tesla – electric vehicles have also become more affordable. The range of model options has grown, with SUVs, sedans, hatchbacks, and luxury vehicles all available in electric versions. But is there such a thing as an affordable electric car?.

Federal, state, and local tax breaks, rebates, and HOV access make the overall cost of owning an EV much lower than you might expect. And whatever you spend purchasing an electric vehicle will be offset by the money saved maintaining it. Most require only basic upkeep and EV owners spend on average half as much on electricity driving an EV, compared to gasoline for a gas-powered car. There are fewer moving parts, no oil changes or cooling system flushes and much less wear on the brakes which means maintenance costs are significantly less – and fewer trips to the dealer or shop for maintenance!

Lower-Priced EVs

Lower-priced electric vehicles, all in the $25-35K range after incentives, include the Chevrolet Bolt, the Kia Niro EV and the Hyundai Kona which all can drive 238 miles or more on a single charge. The Nissan Leaf can also double as a home generator thanks to a two-way power flow through the 62 kWh battery.

Other options are the Mini Cooper SE and the Hyundai Ioniq Electric. For more luxury, and around $10K more, there’s the Tesla Model 3 and the BMW i3.

Piggy Bank

Up-front costs should continue dropping over the next few years as the high price of batteries (the main reason electric vehicles are more expensive) go down. As battery technology has improved, battery costs have plunged nearly 90% in the last decade, from $1,100 per kilowatt-hour in 2010 to $137 in 2020.

Drive Clean Bay Area provides unbiased information on a variety of affordable options that might put an electric vehicle on your list when considering a new car. We can connect you with numerous rebates and tax credits that incentivize buying an electric vehicle. If you’re interested in saving time, money, and the environment, check out our vehicle buying guide and find the EV that’s right for you!

In addition to our Buying and Driving Guide, Drive Clean Bay Area offers regular events to keep you informed of the latest vehicles, innovations, and financial incentives. Drive Clean Bay Area has recently launched a new series of free events for first-time EV owners, that focuses on details of charging, and accessing your incentives, with plenty of time for questions.

Learn more by visiting our events page.

Drive Clean Bay Area Collaboration

Drive Clean Bay Area is a collaboration of nonprofit organizations, agencies, cities, schools, and businesses with a goal of greatly reducing carbon emissions by advancing the adoption of electric vehicles.

Through scaled community engagement programs, we inspire people to replace internal combustion vehicles with electric vehicles, e-bikes, and other forms of zero-carbon transportation. Drive Clean Bay Area launched in 2018.