WASHINGTON, D.C. – Today, the Zero Emission Transportation Association’s (ZETA) released a new report showing that electric vehicles (EVs) are delivering vast cost savings to drivers. For the first time, ZETA’s report includes data that illustrates the cost-per-mile trends for both EVs and gas-powered vehicles over the past six months. This report’s publication comes as the May Consumer Price Index (CPI) is released.
“Because of inflation and Putin’s invasion of Ukraine, gas prices have continued to surge to their highest rates since AAA started tracking them. American families are losing money at the pump to a commodity that is increasingly unpredictable and unaffordable.” said Joe Britton, the Executive Director of ZETA. “Our analysis shows that American EV drivers are saving thousands of dollars on vehicle operating costs because electricity is cheaper, more stable, and produced locally. EVs aren’t just better for the environment and public health—they are also better for Americans’ wallets.”
A poll commissioned by ZETA earlier this year found that 71% of American drivers are considering an electric vehicle for their next car. The United States’ domestic EV industry is growing, but American-made EVs sales still make up just a fraction of all auto sales.
“If Congress fails to enact policies to ensure our domestic industry can meet Americans’ rising demand for EVs, we will miss a massive opportunity to create good-paying jobs here at home,” said Britton. “By expanding EV tax credits, Congress can send a clear market signal that consumer demand will be sustained, enabling American manufacturers to scale up production.”
“Our foreign competitors are racing to build their clean transportation sectors. If we fail to act, millions of Americans will once again turn to foreign imports, just like they did in the early 1980s and again in the mid-2000s. But if we make the right policy choices today, the domestic EV industry will be a true American success story that creates millions of jobs, drives down costs, and contributes to avoiding trillions in health and environmental impacts,” said Britton.
Here are some key facts from the report:
Find the entire analysis here.
The Zero Emission Transportation Association (ZETA) is a federal coalition focused on advocating for 100% EV sales by 2030. ZETA is committed to enacting policies that drive EV adoption, create hundreds of thousands of jobs, secure American global EV manufacturing leadership, drastically improve public health, and significantly reduce carbon pollution.