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Electric Cars Can Cost Less Than Gas-powered Vehicles

Last week, just after Colonial Pipeline, the main fuel pipeline operator in the Undos States, suffered a cyber attack , most Americans expressed an enormous interest in purchasing an electric car. The reason? According to a report published by CBS News, because of the attack, numerous regions of the country were hit by a shortage of fuel, which, consequently, caused an increase in the price of other fuels, long lines at gas stations and other factors that generated a wave of frustration in many Americans.

Eletric cars

Kathleen Biggins is one of the few Americans not affected by the situation described above. “My son said, Mom, we don’t have to worry, we’re in your car,” Biggins told Jeff Berardelli, a reporter for CBS News.

“I feel safe seeing the fuel shortage spread across the country. I get more reassured when I see that I don’t have to face the long lines at gas stations. It is true. Glad I can feel safe, glad I can be in control of the situation. But I’m only privileged because I have an electric car”, she revealed.

For the 99% of Americans who do not own electric vehicles, the scenario is different. In a nutshell, it’s catastrophic. Many are faced with such a situation by choosing not to purchase an electric car. Car prices, for most US residents, are exorbitant – the average price of an electric car is US$19,000, higher than a gas-powered vehicle, for example.

For Biggins, the investment, even if it is high, is worth it. “The return is in the long term. In general, maintenance is cheaper than that of a gas-powered vehicle,” he pointed out.

According to an analysis by Consumer Reports, those who purchase an electric car can, in terms of fuel, save more than $4,700 – over seven years. Over the same period, maintenance savings can range between $6,000 and $10,000.

Scenario

For Jeffrey Sachs, an economist and sustainability expert, the total cost of electric vehicles is likely to fall in two or three years. “This decline, which is already visible, will continue, not least because all the manufacturing companies are copying Tesla,” he said.

“The price should also decrease because the automobile market in the United States is currently forced to face some changes. The first involves the national security sector. We cannot suffer another attack like that. Now, the second change involves the issue of climate change, which has been taking place due to high CO2 emissions”.

“I think we need to invest in a renewable energy system that does not meet the whims of international markets and the wars taking place in the Middle East. If we follow this path, our future will be different,” reveals Sachs.

President Biden recently pledged about $15 billion to build 500,000 electric car charging stations across the country. According to the CBS News report, the number of electric vehicle models available in the United States is expected to triple over the next three years.

“Even if costs are a disadvantage, we will have to change because of climate risks. But, in my opinion, prices should indeed fall. I believe we won’t even need to haggle,” explains Sachs. “Over the past 10 years, battery prices have dropped by as much as 90%. This shows that we are entering a new era.”