You save money driving a 100% electric car.
The exact amount depends on a car’s efficiency, mileage, fuel and electricity cost.
Maintenance cost is also lower for electric cars, a study (2) estimated 4 cents/mile.
For someone driving 15,000 KM/year in Europe, an electric car saves 1.770€/year.
For someone driving 10,000 miles/year in the US, an electric car saves $1,400/year.
The more you drive or the larger the car, the more you save. When considering a lifetime of 200,000 miles and all costs involved a study from Consumer Reports concluded that electric cars are normally the winner.
A key reason is that cars are much less efficient at converting fuel to power than power plants are. Electric cars operate at about 77% efficiency compared to 12-30% of gasoline engines (3)
Something to keep in mind and discuss, especially with those who want to save money on gasoline.