Just like for gas cars, prices for electric cars vary based on the make and model. If we compare the overall costs of electric cars vs. gas cars over a 10-year period — i.e. purchase price plus fuel, insurance and tax — the average cost of an electric car is on a par with that of an internal combustion engine car.
Electric vehicle prices are expected to come down as their batteries become cheaper thanks to economies of scale, technological advances and optimization. Currently, we estimate that the cost to charge an electric car is about one-third less than buying a full tank of gas.
You can buy or lease an electric car at any dealership or manufacturer. The list prices of the main 2020 electric car models in Italy were:
- FIAT Nuova 500 from €26,150
- EVO Electric from €32,340
- OPEL Corsa-e from €32,400
- CITROEN e-C4 from €35,150
- BMW i3 from €40,600
- AUDI e-tron from €73,200
(source: Quattroruote automotive magazine, January 2021)
Electric Car vs. Gas car Maintenance Costs
The average electric car maintenance cost is lower than gas car maintenance. The use of electric power means there is no internal combustion, which leads to less corrosion. Electric vehicle engines also have fewer moving parts (such as fan belts, spark plugs etc.) which saves you money on replacement parts and labor. This leads to average savings on electric car maintenance costs of about $800 a year.