Yahoo Finance Electric Cars 101: The Answers to All Your EV Questions
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Electric vehicles (EVs) are becoming increasingly common, with many manufacturers currently offering models that plug in. There are dozens more models expected to hit the market over the next few years.
And there's been increasing interest from car shoppers. In 2010, just 1,919 EVs were sold in the U.S. In 2018, sales hit 233,411.
A 2019 survey, conducted by Consumer Reports and the Union of Concerned Scientists (UCS), shows that 63 percent of prospective car buyers in America are interested in electric vehicles.
Overall, 31 percent would consider one for their next purchase, 27 percent would consider one at some point down the road, and 5 percent say they are definitely planning on buying or leasing one for their next vehicle. This last number would mark a big escalation in electric car purchases in the U.S.
A growing number of consumers may be interested, but most have had limited experience with electric vehicles, despite that some EVs have been on the market for years, including models from Chevrolet, Ford, Honda, Nissan, and Tesla. And many consumers naturally will have questions about how an electric car might fit into their lives.
This guide is a basic primer that can help determine whether “going electric” is right for you.
What Models and Types Are Available?
Electric vehicles come in all shapes and sizes, from small hatchbacks to luxury SUVs. Some are electric versions of familiar models, others are all-new vehicles engineered to strictly use electric power.
There are two basic kinds of plug-ins: Battery electric vehicles (BEVs) that run exclusively on electricity, and plug-in hybrid electric vehicles (PHEVs) that can run on electricity for a limited distance before switching to gas/electric hybrid mode.
Below is a list of models that are on sale now or are scheduled to be by the end of 2019.
Hatchback
Chevrolet Bolt (BEV)
Fiat 500e (BEV)
Hyundai Ioniq (BEV, PHEV)
Kia Soul EV (BEV)
Mini Cooper SE (BEV)
Nissan Leaf (BEV)
Toyota Prius Prime (PHEV)
Volkswagen eGolf (BEV)
Sedan
Ford Fusion Energi (PHEV)
Honda Clarity (BEV, PHEV)
Hyundai Sonata (PHEV)
Kia Optima (PHEV)
Luxury
Audi A3 e-tron (PHEV)
Mercedes-Benz C350e and S550e (PHEV)
Porsche Panamera 4 E-Hybrid (PHEV) and Taycan (BEV)
Tesla Model S (BEV)
SUV/Minivan
Audi E-Tron (BEV)
Chrysler Pacifica (PHEV)
Hyundai Kona EV (BEV)
Kia Niro EV (BEV, PHEV)
Jaguar I-Pace (BEV)
Land Rover Range Rover and Range Rover Sport (PHEV)
Mercedes-Benz EQC (BEV) and GLC 350e (PHEV)
Mini Countryman ALL 4 SE (PHEV)
Mitsubishi Outlander (PHEV)
Porsche Cayenne S E-Hybrid (PHEV)
Tesla Model X and Model Y (BEV)
Volvo XC60 T8 and XC90 T8 (PHEV)
Plug-In Hybrid vs. Pure Electric
Plug-in hybrid electric vehicles can operate on electric power alone for anywhere from 10 miles to 50 miles. Once their battery power is depleted, plug-ins transition from running on electricity to being powered by the gasoline engine mode to extend their range, allowing them to drive about as far as a regular car, and they can quickly refuel at a typical gas station.
Plug-in hybrids are an appealing option for drivers who travel mostly short distances, and can benefit from operating on electricity most of the time. But those owners can still get the ultimate range of a gasoline engine when needed.
Battery electric vehicles are very efficient, and most newer models have enough range to satisfy the needs of a typical driver for multiple days without fully recharging. For most drivers, this means daily energy usage can be replenished from a simple 110-volt outlet, without the need to purchase and install a 240-volt charger. Battery electric vehicles have fewer components than a plug-in hybrid or an internal combustion engine vehicle, and so they often have lower maintenance costs—no oil changes necessary!
Why Should I Buy an Electric Car?
Electric cars offer significantly lower fuel costs compared to traditional, gas-powered cars. On average, a gallon of gasoline costs about twice as much as the comparable cost to run an electric car. That’s especially true if drivers take advantage of off-peak electricity rates while charging at home. And electric rates tend to be more stable than oil prices. (Compare how much you’d save in your state using the Deptartment of Energy’s eGallon tool.)
Lower Operating Costs
EVs have overall lower energy costs.
Most EVs have lower maintenance costs because they have fewer and simpler components and don’t require oil changes.
When combined with a home solar system, “fuel” costs could be completely eliminated.
Lower pollution
EVs produce no particulate or smog-causing tailpipe emissions, which are a significant contributing factor in causing asthma and other air pollution-related illnesses.
EVs have lower carbon emissions than gasoline powered vehicles over their service life.
Unique features
EVs are quiet, due to their lack of engine noise.
Most EVs provide instant power and can be fun to drive.
Charging at home is convenient.
Why Shouldn’t I Buy an Electric Car?
EVs cost more on average than typical gas-powered cars, and despite significant advances in range, they may not be ideal for some one-car households. Plug-in hybrids solve the range problem, but they still need a place to plug in to take full advantage of their propulsion system.
Electric vehicle owners need to have ready access to an outlet (or 240-volt battery charger) and a parking spot for overnight charging, unless they are relying entirely on workplace charging.
For EV drivers, planning when and where the car will be charged is a constant part of ownership.
Unlike refuelling a gas car, which takes only a few minutes, recharging an EV can take 25-60 minutes (depending on the battery size and charging speed) using fast chargers and several hours with slower, Level 2 chargers (see below for more details on levels). Note also that in cold weather or extreme heat, the range plummets dramatically.
Of course, an EV doesn't have to be somebody's only car. A conventional gas-powered car can fill in where a pure EV falls short—and vice versa—in a multi-car household.
The main questions to ask yourself:
How many miles do I drive each day?
Do I have regular access to charging at home or at work?
How much would the electricity costs be?
Do I need a faster charging option, or can I charge overnight with a regular outlet?
How often do I travel beyond the electric range?
Are there charging stations in my local area or travel corridors? (Check out PlugShare.com and the Energy Department's Alternative Fuels Data Center and related apps.)
What's the Cost to Buy?
Base prices start at about $30,000 for the Hyundai Ioniq and Nissan Leaf. From there, prices run the gamut and span into six figures for a Tesla Model S and Model X. In some cases, those prices are thousands more than similarly-sized gas-powered cars.
But many electric cars are eligible for up to a $7,500 federal tax credit to help offset the extra cost. Additional city and state tax credits, rebates, or vouchers are available in California, Colorado, New York, Texas, and elsewhere that can make the costs of electric cars more compelling and competitive with the price of non-EVs. Plus, consumers with a home solar system can really lower or even eliminate their energy costs.
Under current rules, once an automaker sells 200,000 electric cars, the value of the tax credit decrease and eventually fades away. So far, this has impacted only two automakers, General Motors and Tesla. However, Congress is considering a plan that would expand the federal tax credit, including increasing the number of electric cars from each automaker that is eligible for the credit, so this limitation may change. Be sure to consult your accountant to determine eligibility for receiving a tax credit. Check current status for credits being offered with the IRS.
It pays to do your homework and look beyond the sticker price to find out how much you’d actually be paying after state, federal, and local incentives, as well as local lease offers. You may be surprised to find that some EVs are more affordable than you think.
What Are They Like to Drive?
We’ve found most electric cars deliver instant power from a stop, and they are both smooth and quiet when underway. The driving experience is quite different from a traditional gasoline-fueled car, as EVs feel like they glide effortlessly.
Most electric vehicles we’ve tested ride comfortably. Despite their heavy batteries, they typically handle well because that battery has been placed low in the vehicle, plus they lack a heavy engine above the front axle.
Check out our full EV ratings.
How Far Can They Go?
Most all-electric cars can now go more than 200 miles on a full charge—much less than the typical 350-400 mile range for gasoline cars. We found that the EPA rated range is quite accurate for EVs, however, hilly terrain and running the air conditioning in hotter weather can also exact a toll. And driving in cold weather will shorten the range noticeably, due to the power required to heat the cabin.
Driving an EV requires planning. But plug-in hybrids have a combined gasoline and electric range of 400 to 550 miles, and if you plan it right, you may never have to go to a gas station, except for long trips.
Below are 10 example EVs, with their EPA-rated range. For plug-in hybrids, a total range that combines electric and gasoline power is shown in parentheses.
Vehicle Make/Model | EPA-Rated Driving Range on Single Charge (Miles) |
Audi E-Tron | 204 |
Chevrolet Bolt | 238 |
Chrysler Pacifica Hybrid | 32 electric / 520 total |
Hyundai Ioniq PHEV | 29 electric / 630 total |
Hyundai Kona EV | 258 |
Kia Niro EV | 239 |
Nissan Leaf Plus | 226 |
Toyota Prius Prime | 25 electric / 640 total |
Tesla Model 3 Long Range | 310 |
Volkswagen eGolf | 125 |
Level 1 & 2 J1772 Charge Port
DC Fast Charging SAE/CCS Combo
DC Fast Charging CHAdeMO
DC Fast Charging Tesla
Illustration by Chris Philpot
How Long Does It Take to Charge One?
Charge times vary greatly, depending on the size of the battery, how fast the car is able to take the charge, and the amperage of the circuit. For most EV owners, charging overnight at home is the cheapest and most convenient option. Unless you are pushing the range limit on a daily basis, you won’t have to fill it up from empty all the way to full very often.
On a typical 240-volt, 30-amp (Level 2) charger, it takes between 9 and 13 hours to fully charge an EV that can go more than 200 miles. Plug-in hybrids, with their smaller batteries, take significantly less time to recharge. For instance, it takes about 2 hours to replenish the Toyota Prius Prime.
Expect about triple those times when charging from a standard 110-volt (Level 1) household outlet. Put another way, on a standard household outlet, expect to get about four miles of driving for every hour of charging.
A wider variety of 240-volt chargers are coming on the market that charge at different speeds, with charge times that vary depending on the car and charger. Some systems, such as Tesla’s High Power Wall Connector home charger, replenish the battery much quicker with Teslas equipped for high-rate charging.
Publicly accessible DC fast chargers are spreading throughout the country. These can replenish up to 50 percent of the battery’s range in 30 to 45 minutes. Tesla’s superchargers are even quicker, with the speed varying by model. The most common V2 superchargers can restore 50 of the battery capacity in 30 minutes for the Long Range versions of the Model 3, S, and X.
Where Do I Recharge?
Electric cars achieve the biggest benefits and cost savings when they’re charged overnight at home when electric rates may be lowest. As another benefit, most electric-car drivers say they find it much more convenient to just plug in at home than to have to stop at gas stations.
It’s possible to charge a plug-in hybrid overnight, even on a standard 110-volt household outlet.
“Most PHEV owners will not need a Level 2 charger,” advises Gil Tal, director of The Plug-in Hybrid & Electric Vehicle Research Center at the University of California, Davis. “The Level 1 charger that is provided with the car can charge the battery back to 100 percent overnight.” Tal adds that Level 1 may be sufficient for many electric car owners, as well, if they do not drive more than 40-50 miles per day.
It’s worth investing in a wall-mounted charger if you need juice quicker than 110-volts can provide and you don’t have convenient access to a public or workplace charger. Wall units are available online through Amazon, Costco, Home Depot, Lowe’s, Sam’s Club, among others. The cost is typically $500 to $700.
You’ll need a professional electrician to install a Level 2 charger. It entails putting a special 240-volt receptacle in your garage, like the ones used for a clothes dryer. HomeAdvisor shows that parts and labor, beyond the charger itself, costs $1,200 to $2,000.
Check your utility and state incentives for discounts and tax rebates on charging equipment, some of which can cut the total cost in half.
Charging on the go is becoming increasingly viable. There are currently about 22,000 public EV charging ports in the U.S., and that number is expected to more than triple by 2023.
There are apps available to help, including from the automakers. These are essential tools for EV owners. There are websites, like PlugShare.com, that are helpful for locating public chargers, as well.
Ready to Go Electric?
The latest survey from Consumer Reports finds that most Americans have at least some interest in electric vehicles and understand that EVs can help save money on fuel and maintenance. If you're ready to learn more about the benefits of lowering your daily transportation costs and helping to reduce air pollution, check out the ratings and reviews of individual EV models by Consumer Reports.
Is an Electric or Hybrid Car Right for You?
With longer range batteries and more places to charge, electric cars are becoming a popular choice for drivers who want to reduce their consumption of fossil fuels. On the "Consumer 101" TV show, Consumer Reports' expert Mike Monticello explains to host Jack Rico what you need to know about this technology.
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