Electric vehicles are more expensive than originally thought, study says

The average purchase price of electric vehicles has always been higher than that of gas-powered vehicles, but a new study shows that per mile driven, EVs are much more expensive.

Electric vehicles, according to the ISeeCars study, are driven 20% less than gas-powered vehicles. This means their cost per 1,000 miles driven per year is nearly 64% more than gas-powered cars.

Hybrid vehicles, which combine aspects of electric- and gas-powered motors, are also driven less, but by a much narrower margin – less than 5%  – compared to gas-powered cars, according to the study.

“Range anxiety and charging infrastructure are top-of-mind for EV drivers, and those factors likely limit how far owners will drive them. Hybrids and plug-in hybrids, where all-electric battery range is limited but range anxiety isn’t a factor, are driven only slightly less than gasoline cars, as reflected in their similar yearly mileage,” Karl Brauer, iSeeCars executive analyst, said in a statement on the study.