Pump vs. plug: Electric vehicles can save money despite higher up-front cost - Press Herald

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A promotional photo of the 2022 Hyundai Kona Electric. The crossover vehicle is also available in a gas-powered version. Courtesy of Hyundai Corp.

An electric car costs more up front but can be less expensive to own over time than a gasoline-powered car.

Take the 2022 Hyundai Kona hatchback. The sticker price of the base model gas version is $23,100. The electric version costs $34,000 but qualifies for a $2,000 Efficiency Maine rebate and a federal tax credit up to $7,500, depending on the buyer’s tax liability. So the electric version can cost as little as $24,500 for some buyers.

The gasoline Kona is rated at 29 miles per gallon for city and highway driving combined. At $4.10 a gallon, it costs 14 cents per mile to operate.

The electric Kona costs $13.44 for a full charge at the current electric rate of 21 cents per kilowatt-hour. With a range of 258 miles, it costs 5.2 cents per mile.

At current electricity and gasoline prices, traveling 10,000 miles would cost roughly $1,400 in the gas Kona and $520 in the electric Kona.

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