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Expand chart
Reproduced from Energy.gov; Chart: Axios Visuals

Electric cars are still more expensive to purchase than gasoline models, but they're considerably cheaper to maintain.

What they're saying: Maintenance costs for a battery-electric vehicle are 6.1 cents per mile, compared to 10.1 cents per mile for a conventional car with an internal combustion engine, according to research from the Department of Energy's Office of Energy Efficiency and Renewable Energy.

  • That's because an EV doesn't have things like spark plugs, an oil filter or a timing belt — and all the maintenance costs associated with them.
  • EVs have fewer moving parts overall, so there's less to break down.

Yes, but: They still have brakes, tires and accessories like headlights and windshield wipers that need to be replaced occasionally.

The bottom line: When you factor in savings on gas and maintenance over the life of the car, an EV doesn't cost that much more than a gasoline car.

Go deeper

Ben Geman, author of Generate
Jun 16, 2021 - Energy & Environment

GM accelerates electric vehicle plans with billions more in investment

Illustration: Sarah Grillo/Axios

General Motors plans to boost its cumulative investment in electric and autonomous vehicles to $35 billion from 2020-2025, a significant jump from a $27 billion target.

Driving the news: GM said this morning that the initiative will include building two new battery cell manufacturing plants in addition to the two already under construction in Tennessee and Ohio.

Updated Jun 16, 2021 - Axios Events

Watch: A conversation on reinventing the energy grid

On Wednesday, June 16, Axios climate and energy reporter Andrew Freedman and energy reporter Ben Geman took a look at energy resilience and the electric grid, featuring Sen. Martin Heinrich (D-N.M.), New York Power Authority President & CEO and GridWise Alliance Chair Gil C. Quiniones and GridWise Alliance CEO Karen G. Wayland.

Sen. Martin Heinrich discussed how policymakers can make a difference in creating a resilient and accessible energy grid.

  • On the need to invest in a grid that will support future generations: "We really need to reinvest in our grid. It needs to be much more robust because we're going to actually have a lot more electricity on the grid 10 years from now than we do now."
  • On improving accessibility through point of sale rebates: "Shifting from [tax credits] to point of sale rebates is a really important way of how we get at this and do it broadly across the economy, and make sure that average and even low-income people can make these changes, whereas tax credits tend to incentivize the top of the market."

New York Power Authority President & CEO and GridWise Alliance Chair Gil C. Quiniones and GridWise Alliance CEO Karen G. Wayland hosted a joint segment where they discussed both state and federal level initiatives to improve energy infrastructure.

  • Gil C. Quiniones on progress made in New York state: "We're applying smart grid technologies...to make the grid more resilient, more flexible and to integrate renewables into our power system. We're also working with our customers to decarbonize their operations [and] energy efficiency."
  • Karen G. Wayland on President Biden's approach to clean energy: "I think it was quite smart of the president to have his climate policy revolve around investments in infrastructure because once that money goes out into the economy, it's durable policy. We build equipment, we deploy technologies and those will help address climate goals...It's not something that can be rolled back."

Axios Vice President of Communications Yolanda Brignoni hosted a View from the Top Segment with GE Digital Senior Vice President and Chief Technology Officer Dr. Colin Parris, who discussed how to create and maintain a stable energy grid.

  • "One aspect of the grid is that the grid is a shared ecosystem...Because it's a shared ecosystem, you have to have shared responsibility. You've got to bring together the people who create the equipment on the grid, people who build software for the grid, government agencies who write the policies, investors who invest in the markets that make the grid."

Thank you GE for sponsoring this event.

2 hours ago - World

Biden: U.S. combat mission in Iraq will end this year

Biden returning to the White House on July 25. Photo: Samuel Corum/Getty Images

The United States' combat mission against the Islamic State in Iraq will be completed "by the end of the year," President Biden said Monday prior to a meeting with Iraqi Prime Minister Mustafa al-Kadhimi.

Why it matters: Biden is close to shifting the U.S. military mission in Iraq to a fully advisory role more than 18 years after combat troops were sent to the country under the former President George W. Bush.

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