5 Facts You Probably Didn’t Know About Electric Vehicles (EVs)

Electric vehicles, such as this 2023 Mercedes-Benz EQS 450 SUV, offer a very different buying and ... [+] ownership experience

There are many misconceptions about electric vehicles (EVs), predictably because most consumers believe they are simply electric versions of combustion vehicles — the automakers have merely swapped the gasoline- or diesel-powered engine for an electric motor. The truth is that EVs are much more complex electronically yet far simpler (with fewer moving parts) mechanically, which makes the purchase and ownership experience very different.

Overall, electric vehicles cost between 10 and 40 percent more than their combustion-only equivalents, reported Consumer Reports in 2022. That typically translates to window stickers that are $8,000-$25,000 higher than gasoline vehicles. Don’t blame the automakers for the premium pricing, as the cost to manufacture an EV is significantly higher thanks to expensive minerals such as lithium, cobalt, and nickel, which are used to make the battery packs. Making matters worse, larger batteries are required for vehicles with extended range. Thus, purchasing a combustion vehicle replacement with a range of 350 miles requires the largest and most expensive battery pack.

To make EV purchases more attractive, agencies and manufacturers offer incentives, rebates, and credits provided for buyers. In 2008, the federal government began offering federal tax credits of up to $7,500 for purchasing an EV or plug-in hybrid electric vehicle (PHEV). Last year, the Inflation Reduction Act overhauled the rebate and incentive program to encourage automakers to make more TVs — with heavy incentives to automakers who manufacture their EVs domestically. As of today, there are federal, state, manufacture, and even local utility rebates and incentives to those in the market for a new or used electric vehicle.

EV ownership should require a home Level 2 charging unit, which nearly eliminates the need to visit a public charging station outside a multi-hour single-day road trip. With a robust home charging system, owners wake to a fully charged electric vehicle each morning — no need to ever visit a gas station. Since EVs have zero “warm-up” required (in contrast to combustion vehicles that need time to heat their lubricants and coolant), they may drive on frequent short trips, with multiple start/stop cycles, without concern or mechanical damage — they are “always ready.” And, as an added benefit, their heaters are warm nearly immediately on cold winter days.

Combustion vehicles have very comprehensive service schedules to cover oil changes, fluid flushes, spark plug replacements, timing belt services, and more. In sharp contrast, electric vehicles have a relatively simple electric motor that is virtually maintenance-free — there are no oil changes, spark plugs to wear, or gearboxes to service. As EVs use regenerative braking (the motor is recharged during deceleration), brake pads and rotors will also last much longer than they do on combustion vehicles.

While today’s properly maintained combustion vehicles will likely have a service life of about 150,000-200,000 miles (based on how long the engine lasts), EVs are fitted with electric motors with nearly unlimited service life. In other words, an EV that has been well maintained mechanically (and cosmetically) could theoretically provide 1,000,000 miles of service — a lifetime of driving — before needing a major repair.