PHILADELPHIA — A new tool is available to help drivers estimate potential savings when switching to electric vehicles (EVs).
Interest in the financial benefits of electric vehicles is on the rise among prospective buyers.
“People are increasingly focused on saving money,” stated Josh Boone, Executive Director of Veloz, an industry group dedicated to promoting the use of electric vehicles.
Veloz aims to speed up the transition to electric cars by emphasizing their advantages.
“On average, individuals can save about $2,000 annually on fuel costs, which translates to roughly $166 in monthly savings,” Boone explained.
“The average person can save around $2,000 a year on gas, and this provides consumers with about $166 in savings per month,” Boone said.
Those savings depend on how much and how far you drive.
Veloz has a national database and website called ElectricForAll.org.
On that site, you’ll find a calculator to figure out how much you would save.
You simply input the kind of EV you want to drive, the distances you drive per year, the miles per gallon of your current gas vehicle, the average cost of gas where you live and your zip code. The zip helps determine the cost of electricity in your area.
After you put in all the information, you will have an estimated fuel savings amount and a total annual savings, which includes the money you save on maintenance.
“Imagine with an electric vehicle, you never have to change an oil filter, you don’t have to change spark plugs, or do regular tune-ups. EVs just have fewer moving parts overall, and so there’s less maintenance,” Boone said.
Copyright © 2025 WPVI-TV. All Rights Reserved.
