21:44:40 EDT Fri 03 May 2024
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NP says Tesla hears UBC study's take on EV savings

2024-03-13 09:20 ET - In the News

The National Post reports in its Wednesday edition that the farther you drive and the longer you own your car are key to determining whether an electric vehicle will save you money compared with a gas vehicle, according to a new study by researchers at the University of B.C. Postmedia's Glenda Luymes writes that British Columbians must drive an average of 64 kilometres a day for seven years to make the costs associated with an EV break even with the costs associated with the same model gas car, said PhD candidate Bassam Javed. If you drive farther, or keep your car longer, the EV becomes more economical. While a gas car is cheaper to buy, "every electric kilometre is cheaper than a gas kilometre," said Mr. Javed. So savings add up over time. "The research helps to show where EVs make sense from a financial point of view." While the "break-even" point between EVs and gas cars is 64 km a day in B.C., the numbers vary widely between provinces. In Ontario, where electricity rates are higher, it is 88 km. "If we actually want to meet our targets, we need to see a shift toward smaller, cheaper EVs, otherwise we risk staying right where we are," said Mr. Javed. Teslas are by far the most popular electric vehicle in B.C.

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