How much does it cost to own or drive an electric car?

Less than a gas car. Electricity is not only cleaner than gasoline or diesel, it is also cheaper to drive electric than with fossil fuels.  With US gas prices increasing rapidly, this divide will only increase.

The average US driver who logs 15,000 miles in 2022 will spend about $2,460 a year on gas. If that same driver covers the same amount of miles in an electric car, their fuel costs will be less than $750, a savings of over $1,710 in fuel costs alone.

In addition, EVs do not require oil changes, tune ups, smog checks, spark plug replacements. They have no radiator, no fan belts, no timing belts, and no transmission. Even your brakes will last longer, because EVs use “regenerative braking” to recharge batteries while you drive, which reduces wear and tear on brake pads.

The bottom line is that driving an EV means less time worrying about maintaining your car, and leaving it with your mechanic or dealership. You will also spend less money on fuel and maintenance.

PG&E has put together an excellent tool that that offers a detailed energy cost comparison of specific EV models and their gas-powered equivalents.