New Research Reveals Owning an Electric Vehicle in Europe May be More Affordable Than Previously Thought — evproguide.com

Electric vehicles (EVs) have been gaining popularity in recent years due to their potential to reduce carbon emissions and address the issue of air pollution. However, despite the benefits of owning an electric vehicle, many consumers have been deterred by the higher upfront cost compared to traditional gasoline vehicles. This has led to a common perception that owning an electric vehicle is only affordable for those with a higher income.

However, new research suggests that owning an electric vehicle in Europe may be more affordable than previously thought. The study, which was conducted by a team of economists and energy experts, analyzed the total cost of ownership (TCO) of electric vehicles and compared it to that of gasoline vehicles. The TCO of a vehicle includes not only the purchase price but also the cost of fuel, maintenance, insurance, and other expenses incurred during the ownership period.

The study found that the upfront cost of an electric vehicle is indeed higher than that of a traditional gasoline vehicle, but the lower cost of electricity compared to gasoline, as well as the lower maintenance costs of EVs, more than make up for the difference over the long term. According to the researchers, the TCO…