New analysis from AAA reveals that electric vehicles remain more expensive to own than traditional gas-powered or hybrid models, even as fuel costs rise. While higher energy prices have widened the upfront price gap, the study finds that the long-term cost difference is narrowing due to lower operating expenses for EVs. Owners still face higher purchase prices and maintenance costs, though savings on fuel and reduced wear-and-tear on components help offset those expenses. The findings suggest that while EVs aren’t yet the most economical choice overall, their financial advantage is gradually improving.
Despite high fuel prices, EVs cost more to own than gas and hybrid models, but the gap is closing: AAA ...
