Sorting EV facts from fiction

Mostly false

Electrified vehicles (BEVs) sales continue to grow year-over-year, with annual sales in the USA having exceeded 1 million units in 2023—a 50.7% increase from the year prior—per the National Automobile Dealer Association. Nonetheless, sales growth has slowed down, as the Associated Press reports that in January-March 2024, sales of fully electric vehicles grew at 2.7%, while plug-in hybrids and standard hybrids grew at 34% and 45% respectively.

False

While tax incentives do help to energize EV sales, multiple factors besides price go into customers’ purchase decisions. More broadly, the US economy does benefit from any subsidies as it incentivizes strong EV research and development initiatives and diversifies our dependence on foreign fuel sources. 

False

On average, Americans drive 37 miles for commuting and running errands per day; ~85% typically travel under 100 miles per day (per the US Department of Transportation). The good news is that most BEV models have an EPA-estimated range above 200 miles on a full charge, and newer PHEV models have an EPA-estimated range above 30 miles (though earlier models tend to be lower).

It depends

Charging an plug-in vehicle at home is like any new appliance: you need to ensure your home can handle the total power demand of all appliances. You can plug into a common 120V power outlet and gain 3-5 miles of range per hour charged, so plugging in overnight can add 25-50 miles alone. 

It depends

On the go, Level 3 fast-chargers can be handy for a quick charge, but pricey—our partners at Edmunds have seen ranges from $0.36 to $0.63 per kWh, though in high-demand times costs could rise. At home, rates are significantly lower (50–70%), typically $0.10 to $0.20 per kWh, with potential cost fluctuations during peak and off-peak hours.

Mostly true

If you don’t have reliable access to a power plug where you park, an BEV or PHEV may not be your best option; however, depending upon how much you drive, you could visit a charging station infrequently to top off your battery and then just consume the power over several days/weeks (not unlike how we drive gas-powered cars).  

False

Whether a certain EV works for you depends more on your driving habits than where you live.  If you live in a rural area but can regularly charge at home or work, a BEV or PHEV is a great choice if it meets all your needs, but if it doesn’t, a conventional HEV fits the bill.  

It depends

Based on the age and condition of your car, a new battery could indeed cost more than it; however, the same is true of a buying a new engine for an ICE car.  Battery replacement costs are high today but are anticipated to come down over time as more and more efficiencies are gained in development. 

True

Because fully electric and plug-in hybrid vehicles have higher relative curb weights, and deliver power and torque more instantaneously, owners experience tire wear faster than comparable ICE vehicles.  HEVs aren’t impacted as much due to their smaller batteries. 

A little bit both true and false

Current-generation EV batteries rely heavily on lithium, cobalt, and manganese, all of which require extensive mining to extract and prepare for batteries.  Automakers today are introducing next-generation batteries that avoid the high amounts of cobalt and manganese and continue to develop more sustainable future battery solutions that avoid these minerals.