Did you know the first successful electric vehicle (EV) was invented in Iowa? Around 1890, chemist William Morrison of Des Moines built a 4-horsepower, front-wheel drive EV. It traveled at about 14 mph and could travel about 50 miles before needing to recharge overnight.
In the early 20th century, there were gas and even steam vehicles on the market along with EVs, which were popular for short-distance city driving. People liked that they weren’t smelly or noisy, but internal combustion engine vehicles eventually won out.
Today the tables may have turned, and some industry leaders are convinced EVs are the future. There are currently about 65 different EV car models on the roads. According to Kelley Blue Book, rising demand is influencing different car manufacturers to roll out all-electric models and decrease EV prices. Depending on the make, model and features, prices currently range from about $20,000 to about $100,000.
One huge benefit of EVs is that they have fewer moving parts, which means they require less maintenance. In addition, the cost to charge an EV is less than filling an internal combustion engine vehicle with gas. A Consumer Reports study found that on average, EV owners can expect to save $4,600 over the car’s lifetime.
Despite the environmental and maintenance benefits of EVs, many consumers have range anxiety. In fact, it’s one of the key factors that affect one’s decision to go electric. Range anxiety is the EV equivalent of fear you’ll run out of gas. Drivers worry their battery will run out of charge while on the road, and that they'll have to spend too much time charging.
Fortunately, charging infrastructure continues to improve and so does EV range. Some EVs can even go up to 350 miles on one charge. Public fast-charging networks are also expanding across the country to make long distance driving more convenient. Tools like Plugshare.com help drivers plan their route and find nearby public charging stations.
If you’re interested in an EV, check out our online tool before you make the switch. You can:
- Get a personal estimate. Find out your savings potential based on your driving habits, electricity use and more.
- Compare options. View options side by side to understand potential cost impacts.
- Make an informed decision. Learn if an EV may be a good investment for you.
Take the first step to see your potential EV savings and more today.