Featured image: Motor1.com
When looking to buy an electric vehicle, price is often one of the top considerations. Those with more financial capacity may consider buying a more expensive EV, those with a more modest budget may consider the cheapest option. Nevertheless, generally, the cost of an electric vehicle should be based on its actual capabilities and specifications. But what if you could buy one of the most economical EVs, and yet still have maximal capability?
InsideEVs conducted a study among BEVs in the US comparing base price (MSRP + destination charge) with EPA range, and the data results showed which models are the most affordable per mile of range.
The Tesla Model 3 Long Range 18" ($48,190) is estimated to be the most affordable BEV per mile of range (PMR). In fact, for every mile of range, the buyer pays only $137, which is the lowest price among any BEV.
Meanwhile, buyers of the cheapest EVs actually overpay significantly when buying seemingly the cheapest electric vehicles. Buyers of Hyundai IONIQ Electric ($26,520), for instance, pay $156 PMR, after receiving a tax credit. For Nissan Leaf 40 kWh ($25,025), buyers pay $168, and for the most "affordable" MINI Cooper CE ($23,250), the PMR is $211.
Source: InsideEVs
In fact, all Tesla models with a variety of wheel options—except the Model X Performance LM 20" ($297 per mile)—have a cheaper PMR than the MINI Cooper CE. Data shows all Tesla models are comparable and in many cases even better options than more “affordable” EVs.
The situation with more expensive models from traditional automakers is very concerning. Even taking into account the receipt of tax credits, their price does not match the real capabilities of the vehicle. Dropping down to the bottom of the list, we can see the absurdly high PMR cost for Porsche EVs. Taycan 4S Pref Battery Plus ($97,650) sports a $481 PMR cost, Taycan Turbo ($144,750) is $720, and Taycan Turbo S ($178,850) is $932!
This study only covers the calculation of the cost of a car per mile of range (PMR) and does not take into account other advantages of Tesla vehicles over competitors. If we consider the performance characteristics, OTA updates (which continually improve your vehicle), the most advanced driver assistance systems—Autopilot, FSD, and five-star safety ratings—Tesla cars continue to be the clear, best option to buy.
© 2020, Eva Fox. All rights reserved.
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Article edited by @SmokeyShorts, you can follow him on Twitter
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
