What’s Driving EVs?
Despite Narrowing Fuel Cost Advantage, EVs Continue To Prosper
Five years ago, as plug-in electric vehicles (PEVs) began hitting the road in numbers, U.S. gasoline prices were running around $3.50 per gallon and heading upward, and automakers saw a great market opportunity for cars that granted their drivers independence from the gas pump. With today’s prices now less than $2 per gallon in most of the country, that value proposition might not be as strong, but consumers are beginning to see benefits in these vehicles beyond simple fuel savings, leading to optimistic sales forecasts for both PEVs and their charging equipment. Read more