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A U.S. Department of Energy report found that, when factoring in the long-term ownership expenses, a small electric SUV costs $0.4508 per mile compared to $0.4727 per mile for a comparable gas car.
Last year, the Biden Administration proposed a stringent vehicle pollution rule that would have driven up to two-thirds of vehicles to be electric by 2032. This year, the administration softened it.
Total cost of ownership of electric cars is often less than petrol or diesel cars. [84] In 2024 Gartner predicted that by 2027, next-generation BEVs will, on average, be cheaper to produce than a comparable ICE“. [85] In China, BEV are now cheaper than comparable combustion cars. [86] The development is driven by subsidies in the Chinese market.
In November 2013, the Texas Commission on Environmental Quality approved a rebate program to provide financial incentives up to $2,500 for the purchase or lease of new eligible vehicles powered by compressed natural gas (CNG), liquefied petroleum gas (LPG), or plug-in electric drive with battery capacity larger than 4 kWh, from a licensed dealer or leasing company. [2]
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The cost to power an electric vehicle can depend on several factors, however, not just current electric rates. On average, it costs half as much to drive an electric vehicle, according to the U.S ...
The program is aimed to promote the sale of 400,000 electric vehicles. The cost of the purchase incentive is shared equally between the government and automakers. Electric car buyers get a €4000 (US$4,520) discount while buyers of plug-in hybrid vehicles get a discount of €3000 (US$3,390).