Is Something Missing for Electric Vehicles?

Even though hybrids may be more benign than vehicles without the supplemental electrification, they still have tailpipes.

So for those who are keenly focused on helping the environment, an EV can be the proverbial slam-dunk—assuming that the electricity being used isn’t generated by a coal-fired plant. (Know that about 17% of the electricity generated in the U.S. is from coal-fired plants, and that number may rise.)

From an economic point of view enthusiasts point out it is less expensive to charge an EV rather than fill it with gas. . .but this is not necessarily the case everywhere and under all circumstances as a recent story (“How Much It Costs to Drive an E.V. and a Gas Car in Every State”) in the New York Times shows.

According to the story, on average, the cost to drive 100 miles in an EV is $5.26—if you charge at home.

If you drive a gas vehicle it is a whopping $12.80 to go the same distance.

However, if you need to go to a fast charger outside of your garage for that EV charge, it is an even-higher $15.62 to drive those 100 miles.

(And this isn’t factoring in the cost of your time. According to the  U.S. Department of Transportation the “Estimated Electric Range per Hour of Charging” at a DC fast charger is 180 to 240 miles. So based on the 240, it would take 25 minutes to get 100 miles. Yes, there are EVs that allow faster charges. But this is average.)

The cost of a non-plug-in hybrid? $6.15 to go 100 miles.

That’s an 89-cent difference between charging an EV at home and refueling a hybrid at a gas station.

So while charging at home is likely the way to go, there is something to keep in mind about that.

According to  Qmerit (“Qmerit’s mission is Electrification Made Easy. With our unrivaled electrical contractor network, we’re North America’s most experienced and recommended provider of implementation solutions for EV charging and other energy transition technologies”):

“The average EV charger installation cost is between $800 and $2,500 on average, with a typical cost of $1,700 for a standard installation, but keep in mind that any complexities or additional electrical work such as a panel upgrade and other factors can impact the cost of your EV charger installation project.”

And there’s this:

“Prices for residential Level 2 chargers range from $400 to almost $2,000.”

So not only is the purchase price of an EV higher by several thousand dollars than that of a similarly equipped gasoline-powered car—straight combustion or hybridized—there is the issue of installing the home charger. With that 89-cent difference, there are several miles that need to be driven in an EV to break even on the $1,700 installation cost.

There are other cited pluses to EVs, such as reduced maintenance costs. For example, no oil changes.

But then there are things like more-frequent tire changes. According to  Cars.com: “Although about a 20% reduction in longevity is often cited, wear for EV tires varies by vehicle and can be worse on performance-oriented models that are fitted with softer tires for better grip.”

And it needs to be taken into account that EV-specific tires cost more.

A quick glance at the  Goodyear site for All-Season tires shows that Assurance MaxLife 2 tires, which have an 85,000-mile warranty, start at $150.

Electric Drive 2 tires, with a 45,000-mile warranty, start at $201.

Fewer miles. More money.

And EV enthusiasts point out the driving experience—especially when putting down the throttle (a.k.a., “gas pedal”)—is more exhilarating. Which is true if the exhilaration comes from a quick 0 to 60 mph time. But if one drives an EV hard, the range is reduced, which essentially flies in the face of the environmental advantage. (And then there are those tires. . . .)

Another point cited is that EVs are quiet. So are most modern vehicles.

Today a form that General Motors filed with the U.S. Securities and Exchange Commission opens with this:

“General Motors Company (the “Company,” “we,” “our” or “GM”) made significant investments and contractual commitments in the development of electric vehicles (EVs) to help the Company’s vehicle fleet comply with emissions and fuel economy regulations that were scheduled to become increasingly stringent. Following recent U.S. Government policy changes, including the termination of certain consumer tax incentives for EV purchases and the reduction in the stringency of emissions regulations, we expect the adoption rate of EVs to slow. These developments have caused us to reassess our EV capacity and manufacturing footprint.”

Consequently:

“. . .the Audit Committee of the Company’s Board of Directors approved charges of $1.6 billion in GM North America (GMNA) in the three months ended September 30, 2025, based on a planned strategic realignment of our EV capacity and manufacturing footprint to consumer demand. These charges include non-cash impairment and other charges of $1.2 billion as a result of adjustments to our EV capacity. In addition, the Company has incurred charges of $0.4 billion, primarily related to contract cancellation fees and commercial settlements associated with EV-related investments, which will have a cash impact.”

The CliffsNotes version is simply that (1) regulations that would require the production of EVs to offset emissions from non-EVs are no longer an issue and (2) consumers no longer have access to federal tax credits for buying EVs, so GM doesn’t need to build as many as it thought it would. Consequently, it is going to cost some serious money to make the necessary adjustments.

And this is not a one-time event:

“. . .it is reasonably possible that we will recognize additional future material cash and non-cash charges that may adversely affect our results of operations and cash flows in the period in which they are recognized.”

GM will not be alone in this.

To go back to  RJ Scaringe’s observation about “compelling products,” this is something that is fairly pervasive in the EV space: the lack of something that makes EVs “gotta-have” products (unless you’ve got a “lotta” money).

This is not to say that EVs aren’t generally good-looking, nicely equipped and, yes, fun to drive (as a juror for the recent  Wards 10 Best Engines & Propulsion Systems awards, I drove several), but these are generally not sufficiently compelling reasons for those who need a vehicle for their daily drives—and who look at their budgets right now, not taking into account total lifecycle costs (which may not be as advantageous to EVs as has been thought).

If GM is saying that its EV sales will be down, in part, because of “the termination of certain consumer tax incentives for EV purchases,” doesn’t this imply that the reason why people were purchasing EVs, in large part, is because they were getting government money to do so? It wasn’t the product as much as it was the incentive. A $7,500 tax credit is real money.

When Apple brought out the iPhone in 2007, it was thought by many that it would be a disaster. After all, where were the buttons?

What’s more—and this is really more—it cost two to three times more than the handsets that were available at the time.

But consumers found the iPhone compelling.

Since its launch it has consistently been the number-one smartphone in the U.S. And it still comes at a price premium compared to other smartphones.

But consumers continue to find it compelling.

It is a stretch between an iPhone and an electric vehicle, but it was new, strange tech at the start that cost more and was even likely to result in more misdialed numbers because there were not physical buttons to push.

Yet it had something that made it worth it, even for mass-market consumers.

Are EVs, in general, still looking for that something?

ong-time automotive journalist Gary Vasilash is co-host of "Autoline After Hours" and is a North American Car, Truck & Utility of the Year juror. He is also a contributor to Wards Auto and a juror for its 10 Best Interiors UX and 10 Best Engines & Propulsion Systems awards. He has written for a number of outlets, ranging from Composites Technology to Car and Driver.

The TTAC Creators Series tells stories and amplifies creators from all corners of the car world, including culture, dealerships, collections, modified builds and more.

Check out Gary's Substack  here.

[Image: GJBSTOCK/Shutterstock.com]

Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by  subscribing to our newsletter.