EV Ownership Benefits

Electric vehicles are defined as a car that uses electricity to improve the vehicle's efficiency. Three kinds of cars qualify as electric vehicles. The first is a hybrid electric vehicle (HEV). Hybrids were the first type of car to use electric power, introduced in the late 1990s. Hybrids use a combination of gas and electricity to power the vehicle with one or more electric motors, an internal combustion engine, and a battery pack. The second type of EV is a plug-in hybrid (PHEV). A PHEV also uses a combination of gas and electricity. However, while a hybrid’s battery is recharged by regenerative braking and the alternator, a PHEV gets most of its charge from an external power source using a charging cord. Still, PHEVs still use the same setup as a hybrid, with a gas engine, at least one electric motor, and a battery pack. Lastly, a battery-electric vehicle (BEV) is an all-electric vehicle. Running solely on electric power, BEVs are completely void of an internal combustion engine and any gasoline. This eliminates fuel costs and your carbon footprint from driving. 

EV owners can save in more ways than just on fuel. Another way they can save is the federal income tax credit for new EV owners. New owners of an EV can get as much as $7,500 in a federal income tax credit. The total amount of this credit depends on a few certain factors. First, it depends on if it is a BEV or PHEV (HEVs are excluded). Additionally, the capacity of the battery is also taken into consideration. The vehicle must also be purchased new by the taxpayer and not used. Also, the vehicle must be one that is charged by an external source, which is the reason for hybrids being ineligible for the credit. Lastly, the vehicle must be electric from the factory and cannot be a gas-powered vehicle converted into one that uses electricity. 

As we’ve previously mentioned, driving an electric vehicle helps reduce or completely eliminate your vehicle's fuel consumption and carbon emissions. In fact, owners of BEVs have been able to save up to $700 per month on fuel. This is because fuel costs more than electricity does. In fact, on average, 33.7-kilowatt hours of electricity is equal to one gallon of gasoline, and an EV can drive approximately four miles on a single kWh of electricity. When you compare the national average price of gas to the average price of electricity, the savings may shock you!

In the early days of electric vehicles, people assumed that electric power decreased vehicle performance. However, electricity has proven to provide remarkable benefits in terms of vehicle performance. This is because of the instantaneous torque. With an internal combustion engine, torque is available after the engine RPMs build up and the fuel/air mixture is ignited in the combustion chambers. However, with an electric vehicle, the electrons needed to provide power to the wheels are constantly flowing, ready to be delivered to the wheels immediately without virtually no delay. This provides an exhilarating driving experience with thrilling launch speeds. While a gas vehicle tends to lose its torque at higher speeds, EVs have torque available immediately, whether the car is at a dead stop or cruising at highway speeds.

As we’ve said, there are many benefits to being an EV owner, from tax credits to enhanced performance. If you want to get the best of both worlds, you should consider a PHEV. Here at Columbiana Chrysler Dodge Jeep Ram, we’re proud to offer drivers Jeep Wrangler 4xe, Jeep Grand Cherokee 4xe, and Chrysler Pacifica Hybrid models to fulfill their dreams of driving a plug-in hybrid. Head over to our new inventory page to check out our current PHEV inventory to find the perfect one for you. Or you can visit our showroom to learn more about our PHEV inventory from a sales expert and take a test drive. We look forward to serving you!