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How to Afford Electric Vehicles -

1/24/2021

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Picture
Yesterday, the New York Times reported on a study that looks at the affordability of electric vehicles. You can see the article on the NYT site for free, by clicking HERE. 

The MIT study looked at the life-cycle costs of various kinds of vehicles, together with their environmental benefit. As the chart above shows, there is a range for all types, from all gas to diesel to hybrid, to all electric. 

In the yellow blob above, you can see that the cars are all clustered at the bottom left corner - minimum cost, minimum environmental impact. 

The lower cost comes, as I understand it, both from lower costs for fuel as well as lower costs for maintenance. 

Of course, there is still the hurdle of the first cost. I am not buying an electric car right away because of this. 

BUT, there is good news on that front, as well. (HERE). 

News came out yesterday that Governor Gavin Newsom is proposing a huge amount of money in the upcoming budget for the state of California to support electrification of transportation. Critically, this bill is NOT targeted at the rich; it has significant amounts of money earmarked to help people with lower incomes and older cars to trade in the older gas-guzzlers for newer, low emission vehicles. 

These are very exciting bits of news. The details for the State program are not finalized, of course (the budget needs to pass!) but it looks as if our state is going to be helping us all to move in the direction we need to. 

Let's all commit that the NEXT car we buy, will be electric. 


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