British Columbians pondering a switch to an electric vehicle would need to drive almost double the daily distance of an average motorist to break even, according to a study by University of B.C. researchers.Researcher Bassam Javed, with the UBC Institute for Resources, Environment and Sustainability, charges up a Hyundai plug-in electric vehicle.
The study noted the distance of daily drive required to recoup EV costs varies significantly between provinces, taking into account rebates on EV purchases and the price of gas and electricity.and pricier electricity — would have to drive 88 kilometres a day to break even. For EV drivers in Alberta, which offers no rebates and has the cheapest gas, researchers found the daily drive would need to be even farther.
A chart from a study from University of B.C. researchers compares provinces on the daily driving distance needed to break even on the higher cost of buying a new electric vehicle, compared to the distance the average motorist drives. electric SUV at nearly $44,000 versus its gas version at about half that price, and Tesla's Model 3 at roughly $60,000 versus Toyota's Camry LE at under $28,000.
"With like-for-like models, we were seeing costs break even around a year or less when incorporating provincial and federal incentives," Bibra said.
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