EV Ownership: Should You Make the Switch?

By 2030, the White House wants electric cars to make up half of all vehicle sales in the United States. And the Inflation Reduction Act established tax incentives to purchase an electric vehicle through 2032. However, as the country heads away from combustion engines, there are some things to consider before buying an EV. Here’s everything you need to know about the realities of EV ownership.

The nationwide infrastructure for EV ownership is still limited at best.

If you like to go on long road trips, you’ll have to plan your trip accounting for charging stations. Fortunately, there are websites you can use to map out charging stations on the way to your destination. Regardless, it is something to consider for those long hauls. 

Conversely, if you’re one to stay local and are considering an electric vehicle, not all states are made equal. US News and World Report named California, Colorado, New York, Oregon, and Utah the six best states for EV ownership. However, in September 2022, the California state government asked EV owners to limit charging due to extreme temperatures. The request came a week after the state banned the sale of new combustion engine vehicles by 2035. 

Additionally, charging an electric vehicle takes far longer than filling a tank with gas. According to Kelley Blue Book, some EVs can take up to 12 hours to fully charge at home. Tesla recently opened up its Supercharges to non-Tesla electric vehicles; however, it’s only at select locations. Downtime for charging your car is something to consider if you drive daily.

Electric Vehicles are generally more expensive.

Tesla’s entry-level vehicle, the Model 3, retails at nearly $43,000 without the bells and whistles. And electrified versions of popular vehicles can jack up the price by over $10,000. Car and Driver reports the Hyundai Kona Electric costs about $35,000, whereas the standard version costs around $25,500. Additionally, the cost of ownership isn’t always cheaper either. For example, the Kona Electric costs about $2,000 more to maintain after three years.