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Yes, in many cases, but it’s not always that cut and dry.
If you’re considering buying an electric car, this short AutoTrader video is well worth watching. It’s hosted by one of our favorite automotive technology presenters, Rory Reid. He’s definitely an EV fan and actually goes so far as to say electric cars have worked to make gas cars look like something from the ICE age.
Reid does the math to figure out how much an electric car costs compared to a gas car. Remember, there’s a whole lot more than starting MSRP to consider when talking about costs associated with any car. Fuel costs are a big one for sure, but there are several other considerations, especially when comparing cars with an EV powertrain to a traditional ICE.
In order to provide a very fair comparison, Reid doesn’t compare just any random EV to a random gas car much like many of these cost-of-ownership comparisons. Instead, he uses the new all-electric Mini Cooper Hardtop (Cooper SE) and a gas-powered Mini Cooper. To make it even more interesting, he uses fictional characters and situations to paint a real-world picture.
The fictional characters don’t live in the U.S., but based on the information Reid uses, it will cost $7,000 more to buy the Mini EV after subsidies. On our shores, the gas-powered Mini starts at $22,400, and the EV is priced around $29,900, though it’s eligible for a $7,500 U.S. federal tax credit. If you can get the credit, you’re looking at these cars having identical starting prices, though you’ll have to wait until tax time to realize the savings.
Check out the brief video to learn how the cost comparison works out from Reid’s perspective. Then share your with us in the comment section below.