The electric vehicle market is booming. With so many options available and prices fluctuating, choosing the right one can be hard for a first-time EV driver or those who aren’t familiar with current market offerings. To make things easier, we’ve created a 3-step guide to help you make your decision.
1. What is your typical driving range and lifestyle?
One of the key factors in choosing your EV is driving range. Are you a city-dweller with a short daily commute or WFH setup, and an occasional trip out of town? A compact, affordable EV like the all-electric Mini SE is easy to squeeze into tight parking spaces, and the EPA estimates it will go about 110 miles on a single charge.
Do you have a large household and a packed daily schedule? An all-electric SUV like the Rivian R1S will provide plenty of space, excellent on-road performance, and about 316 miles on a single charge.
If you're planning to use your EV for any long-distance drives, you'll want it to have the ability to charge from Level 3 DC fast chargers. Luckily, most of the EVs currently on the market have fast charging capability and an average range of 240+ miles per charge.
2. What types of EVs are currently on the market?
EVs can be broken down into three categories: battery electric vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs). BEVs, also known as all-electric vehicles, are EVs with no internal combustion engine whatsoever, so they’re completely free of emissions. BEVs can also top up their batteries through regenerative braking.
HEVs are low-emission vehicles that use an electric motor to assist gas-powered engines. While they use a regular gas tank, they feature regenerative braking that charges the internal battery on the go. An HEV’s battery can’t be charged with a plug like other EVs.
Similar to HEVs but with a larger battery and an electric motor, PHEVs are hybrids that use both a combustion engine and a battery to get around. The combustion engine powers the car and the battery charges when needed.
3. How much does an EV cost to charge and maintain?
EVs typically require less maintenance than gasoline cars because they don’t have an engine or transmission. The battery, motor, and associated electronics require little to no regular maintenance, which makes an EV generally easy to own and drive. A 2018 study by the University of Michigan’s Transportation Research Institute found that the average cost to power an electric car was $485 annually, compared to $1,117 for a gasoline car.
Most drivers charge their EVs overnight at home using AC Level 1 or AC Level 2 charging equipment, and charging costs will vary depending on where you live, the time of year, and even the time of day when peak charges apply. According to the U.S. Energy Information Administration, the average U.S. household pays 14 cents per kWh.
You can estimate your monthly charging costs by taking a recent electric bill and dividing the total bill amount, minus any taxes, by the total number of kWh used. That’ll give you the price you paid per kWh. For example: if your electricity is ¢10.7 per kWh, charging an EV with a 200-mile range and a 54 kWh battery (assuming the battery is fully depleted) will cost about $6 for a full charge.
For a deeper look at charging time and costs for long drives, check out our blog about taking an EV on a 2,600-mile road trip.
Our Current Favorite EVs
2022 Chevrolet Bolt EUV
The Chevrolet Bolt EUV is a great commuter car for city-dwellers who typically drive short distances. Despite being bigger than its Bolt EV sibling, the Bolt EUV is still a small vehicle that will easily zip through traffic and fit most parking spaces. With an estimated 259-mile range and a 65.0-kWh battery pack, the Chevy Bolt EUV has a starting price of $31,500.
Join Evoke to get the Chevy Bolt EUV for $849 monthly in our Bronze subscription tier.
2022 Polestar 2
With powerful acceleration, great on-road performance, and two motor options to choose from (either the Standard range dual-motor or the Long range single motor) the Polestar 2 is a fantastic competitor to the Tesla Model 3. The Polestar 2 dual motor has an estimated 265-mile range and a starting price of $51,900, and the Polestar 2 single motor has an estimated 270-mile range and a starting price of $48,400.
Join Evoke to get the Polestar 2 for $1,149 monthly in our Silver subscription tier.
2022 Tesla Model 3
With an exceptional driving range, solid performance, and a luxurious ride, the Tesla Model 3 is a consumer favorite for a reason. The 2022 Tesla Model 3 starts at $48,490, the Model 3 Long Range begins at $55,990, and the Model 3 Performance starts at $61,990.
Join Evoke to get the Tesla Model 3 Long Range for $1,149 monthly in our Silver subscription tier.
In Conclusion
If you’re interested in making a transition to an EV without the long-term commitment of buying or leasing, consider an EVoke membership. We provide simple, transparent, all-inclusive EV subscriptions with no down payment or startup costs. Sign up for the waitlist today to secure your EV and delivery date!
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