Compared to just a decade ago, we have a lot more choices when it comes to buying an electric car.
Short-range EVs such as the Nissan Leaf and the BMW i3 have been around for years, and long-range, mass-market EVs like the Chevy Bolt and Tesla Model S have started to arrive.
Electric vehicles continue to make up a tiny percentage of global sales – only about 1% – but more are on the way, so presumably that datapoint will improve over time. Unfortunately, much of the analysis around EVs’ potential tends to lump all EVs together, ignoring some of the obvious dynamics of the auto market.
On average, running a vehicle on electricity is over 50% more cost-effective that running a car on gas. There’s really no debate about this, and the simple fact was recently backed up in a University of Michigan study by Michael Sivak and Brandon Schoettle.