Answer
Aug 02, 2020 - 09:23 AM
After tax incentives and rebates are considered, the cost of an EV is similar to a comparable to gas-powered car.
Like gas-powered cars, there are a broad range of prices. As of the when this answer was written, list prices ranged from $30,750K (mini cooper) to $185,000 (Porsche). Nine EVs list between $30,000 and $40,000.
Tax incentives and rebates lower what the car will actually cost. In 2020, these include up to $2500 rebates from Massachusetts MORE-EV program and federal tax credit of up to $7500. Incentives and rebates for different models and from year to year you should check the up-to-date opportunities here.
Aside from the upfront costs, EVs are less expensive to operate than gasoline cars. The cost of electricity is lower than the cost of gas to go the same distance and EVs require fewer repairs as they do not need oil, air filters, belts, spark plugs, etc. and they have fewer parts so they break less often. n
