EV to ICE Cost Parity coming quick

Electric Vehicle

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Today, we would like to share Atlas Public Policy’s assesment on the total cost of ownership for EVs in 2025 and 2030. The material is extensive and rich in details.

We summarized key findings below.

Quick Summary: 

What was considered: Price premium for EVs, fuels costs, rangeXfuel efficiency, Social Cost of Carbon, Air Pollutant Emissions savings, new refuelling (charging) infrastructure 

Findings: Federal fleet going green generates considerable environmental advantages and can also provide substantial cost savings for budgets  

When: Fleet managers should start preparing now for energy transition, reinvesting savings to speed up the process and get more public benefits in the form of earlier emissions cutbacks 

How: update purchasing policies to include TCO considerations with commitments to switch to electric vehicles 

Plan: Fleet managers should project large charging infrastructures to meet future larger fleets of EVs. This will raise initial costs; however, over time, total capital costs can be lowered. 

Cost Parity approaching by 2025, about 40 percent of all light-duty vehicles operated by federal agencies other than The USPS will have a lower total cost of ownership (TCO) compared with conventional vehicles. An additional 56 percent of total fleet vehicles are in categories where their TCOs fall within 14 percent of their traditional counterparts. Because many of these fleet vehicles are replaced as frequently as every five years, this represents a significant opportunity to electrify their fleet before the decade’s end. 

EV’s cheaper than ICE by 2030, electric vehicles across most vehicle types have average TCOs that are less than their conventional counterparts. These vehicle categories represent the vast majority of the federal light vehicle and bus fleet. From 2030, as many as 97
percent of the vehicles in the federal fleet—should they be retired—would be cheaper to replace with an EV than a conventional vehicle.

Westward Industries’s MAX-EV, our low speed electric vehicle, has been receiving  consistently positive reviews from Municipalities, Universities, Parks, and private companies.

If you would like to meet MAX-EV, let us know. 

It would be our pleasure to stop by for a test drive.

Image by Wolfgang Eckert from Pixabay

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Does EV save money?

One of the most obvious benefits of driving an EV is the amount of money you can save on fuel. Even more obvious now, considering the latest price spikes, especially in California. According to a CNBC article, Americans are now paying the most at the pump in seven years, the highest since at least October 2014.

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