Quote:
Originally Posted by Efthreeoh
So Interesting.
I ran the ICE vs. EV numbers between the Bolt and the Nissan Versa using Sedoy's MSRP for the Nissan (I didn't validate his number) and Chevy's MSRP for the bolt.
I do the calculations to 100,000 miles. I include $2,800 for ICE driveline and brake maintenance and assume all other maintenance costs are equal between ICE and EV (basically tires and repairs). I have EV maintenance to 100,000 miles at $0 since there is no combustion process to maintain (doesn't include a potential house fire and death to the occupants...). Fuel costs are 15 cents per kWh and $3.39 regular gas price (my local fuel costs). This time I added an estimated purchase price for an "out-the-door" price for both cars. My estimate is a 15% add based on my 2022 purchase of my Bronco, so both cars MSRP times 1.15. And of course subtracting the Fed Tax credit of (-$7,500) for the Bolt. The 115% estimated purchase price (above MSRP) includes the cost of a 5-year loan, dealer fees, taxes and registration costs (which vary by sate and purchase methodology).
The financial theory here is the price delta between the ICE and EV is the battery cost, which is usually thousands of dollars more for the EV; for example between an Accord and Model 3 its around $8,500, which I turn into "free ICE miles" after subtracting the ICE maintenance costs. Meaning the extra cost for the battery gives the ICE car an amount of free miles.
Doing the calcs for the Bolt vs. Versa and adding in the estimated purchase price (i.e. 115% of MSRP). The Bolt actually loses to 100,000 miles by $958.
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Good for you running these numbers, I'd never get that down into the weeds but it is useful. I recall not long ago reading an article or watching a video on this topic and if I recall correctly you'd need to drive an EV well beyond 100,000 miles to past the break even point. I suspect most people won't keep them that long though.