New research finds small EVs cost-competitive with ICE vehicles, real savings best determined case-by-case

January 4, 2024

The results of a yearlong study by the Responsible Battery Coalition (RBC) comparing electric vehicle (EV) and internal combustion engine (ICE) vehicle total cost of ownership (TCO) show that smaller vehicles of both types are cost-competitive while larger ones are more expensive.

The research project was conducted with the University of Michigan Center for Sustainable Systems. To determine TCO, primary contributing factors to vehicle cost were compared as well as where, when, and for whom EVs are most cost-effective and government policies that could have the most impact on lowering EV costs.

Five vehicle classes — compact sedan, midsize sedan, small SUV, midsize SUV, and pickup truck — were studied in 14 cities. The cities chosen represent major vehicle markets and a wide range of climates, electricity markets, gasoline prices, and levels of public policy incentives. The cities were Atlanta, Boston, Chicago, Cleveland, Dallas, Detroit, Houston, Los Angeles, Miami, Manhattan, Philadelphia, San Francisco, Seattle, and Washington D.C.

Read the rest on Repairer Driven News.