Electric vehicles are unquestionably still too expensive for many consumers, but when compared to traditional gasoline-powered cars, they’re actually not as pricey as you might think.
That’s according to a quick-thinking rebuttal from Transportation Secretary Pete Buttigieg, who was asked in a House committee meeting on Tuesday if he stood by recent comments suggesting that Americans who are upset about gas prices should switch to EVs. Pressing Buttigieg on that stance, Republican Representative Scott Perry of Pennsylvania cited Kelley Blue Book starting prices of $55,000 for EVs, or about “$20,000” more than a traditional passenger vehicle.
But Buttigieg came prepared. “I knew this might come up, so I just pulled some of the latest prices,” he responded. Then he proceeded to quote the following:
- Chevy Bolt: $26,595
- Chevrolet Silverado EV: $39,900
- Ford F-150 Lightning: $39,974
The former mayor and 2020 presidential candidate also clarified that, no, he doesn’t believe the cost of electric vehicles is within reach for all consumers at present. Price checks aside, Buttigieg’s data does commingle nicely with a recent study from Energy Innovation: Policy and Technology, a think tank, which found that being the owner of an EV is actually easier on the pocketbook—on a monthly basis—than owning a traditional car in many states, especially when tax credits are factored in.
Once reason electric vehicles are seen as dramatically more expensive than traditional cars is because they often are. Some Tesla models, for example, will set you back six figures and higher, and Tesla is, after all, America’s most well-known EV brand. At the same time, you can get one on the cheaper end for about $48,000.
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