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Average Electric vehicle price $
As of January 2025, the average price of a new electric vehicle (EV) in the United States was $55,544. This is higher than the average price of a gas-powered vehicle, which was $49,740 at the same time. However, the price gap between the two is narrowing.
Factors that affect the cost of an electric car
Model
The price of an EV can vary greatly depending on the model, with luxury models costing more than $100,000.
Incentives
The federal government offers tax credits of up to $7,500 for qualified buyers of new EVs.
Financing
If you don’t pay cash, you’ll need to consider the cost of interest for financing or leasing.
Maintenance
EVs generally have lower maintenance costs than gas-powered cars.
Charging
The cost of charging an EV depends on where you’ll be charging it and the cost of electricity in your area.
Average E.V. Charge per killowatt hour is $0.34 cents
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