A new study highlighted the disparity between the ownership costs of premium electric vehicles and their gas counterparts, versus the ownership costs of mass-market EVs and equivalent gas cars. The data is part of JD Power’s E-Vision Intelligence Report, and it highlights one of the major challenges facing the EV industry: Price parity with gas cars.
The average five-year cost of ownership of a premium EV is $287 more than comparable ICE vehicles. Mass market EVs, on the other hand, cost $9,529 or 18 percent more than their ICE counterparts over five years of ownership. The average premium EV buyer is paying just 0.4 percent more than what they would for owning a gas car.
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