Here’s a breakdown of hybrid vs. fully electric vehicle ownership costs:
Upfront Costs
Winner: Hybrids
Hybrids are generally cheaper than EVs upfront due to smaller batteries and simpler technology. While EV prices are decreasing, hybrids remain more accessible for budget-conscious buyers.
Fuel/Energy Costs
Winner: Electric Vehicles
EVs cost 4-5¢/mile to charge (70% cheaper than gas), while hybrids range 6-8¢/mile (50-60% savings). However, in high-electricity-cost areas (e.g., California’s $0.28/kWh), PHEVs in electric-only mode may cost 8.6¢/mile vs. 7¢/mile for efficient hybrids like the 57 MPG Prius.
Maintenance Costs
Winner: Electric Vehicles
EVs save $400-$1,000/year by eliminating oil changes, spark plugs, and emissions systems. Hybrids retain gas engine maintenance costs (oil, belts, etc.) while adding EV component risks. Consumer Reports found both EVs and PHEVs cost ~3¢/mile to maintain vs. 6¢/mile for gas cars.
Insurance Costs
Consideration: Tie
Both hybrids and EVs typically cost more to insure than gas cars due to higher repair costs. EVs face expensive battery/tech repairs, while hybrids combine gas/EV system complexities.
Long-Term Projections
EV maintenance advantages grow with mileage, while hybrids face aging gas engine costs. Battery price drops are expected to narrow EV/hybrid price gaps by 2024. For short trips, EVs excel; for long drives, hybrids avoid charging infrastructure concerns.
Final Cost Analysis
| Hybrid | Electric Vehicle | |
|---|---|---|
| Upfront Cost | ✔ Lower | Higher |
| Fuel Cost | 6-8¢/mile | 4-5¢/mile |
| Maintenance | Gas engine + EV complexity | Simpler drivetrain |
| Best For | Long-range drivers | Urban commuters |
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-the-costs-of-owning-a-hybrid-vehicle-compare-to-a-fully-electric-vehicle/
