Soaring gas prices have likely made you more conscious of fuel economy. They might even have you thinking about buying an EV. Electric vehicles have enjoyed greater popularity over the past few years. But with swelling gas prices and the ongoing Russia-Ukraine conflict, some consumers are considering switching to EVs sooner than later.
So, if you’ve ever needed a reason to drive an EV, here are five.
1. Improved EV batteries
EV batteries and battery technology have come a long way since their inception. Though today’s batteries still have a shelf life, they’re smarter and more reliable. For instance, some automakers offer eight-year/100,000 warranties on batteries powering their plug-in hybrids and electric vehicles.
And based on predictions by the National Renewable Energy Laboratory, today’s EV batteries operated in moderate climates could last 15 years.
2. Fuel economy
Fuel economy is an obvious benefit to adopting an electric vehicle or plug-in hybrid vehicle (PHEV). When models like the 2020 Toyota Corolla Hybrid earn a combined 52 mpg, buying an EV is a no-brainer if gas prices affect your car-buying decision.
Today’s light-duty electric vehicles can get upward of 130 MPGe. Average metrics suggest 100 miles of driving would consume only 20 to 40 kWh of power, the U.S. Department of Energy reports.
3. A growing EV infrastructure
When EVs first became available, consumers were hesitant because of a lacking infrastructure. But now, with many ways to charge EVs and rapidly growing nationwide infrastructure supporting plug-ins, most drivers have the support they need on the road. In 2022, the United States has about 113,000 public charging outlets, according to Statista.
4. Reduced emissions
Driving an electric vehicle offers significant emissions benefits. Based on their design, EVs and PHEVs operating in electric mode produce zero tailpipe emissions. And though there are considerations for emissions based on charging the vehicle, even most of those metrics pale in comparison to the carbon footprint a traditional gas-powered vehicle makes.
5. Overall costs to drive an EV
When gas prices skyrocket, an electric vehicle presents obvious cost savings by not requiring gasoline. Buying an EV might be more expensive upfront, but the cost of ownership over time translates to increased savings.
Plus, many consumers can take advantage of the federal EV tax credit and utility and state-based incentives. Some tax credits range from $2,500 to $7,500 on new vehicle purchases. And vehicle cost calculators can help you decide if an EV or PHEV is a cost-saving choice.
Maybe you’re carpooling or working remotely to avoid paying high gas prices. Some consumers are also exploring alternative commuting options to avoid having to fill up the tank. But maybe it’s time to consider an EV or PHEV. Knowing it could be a while before we see relief at the pump, plugging in doesn’t sound like a bad idea.