2023 Hyundai Ioniq 5 Yearlong Review: EV vs. Gas Cost Per Mile—How Much?

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2023 Hyundai Ioniq 5 Yearlong Review: EV vs. Gas Cost Per Mile—How Much?
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Comparing costs between public charging and home charging reveals interesting considerations about EVs saving money. Are they actually cheaper than gas?

We have several EVs in our long-term review fleet but, being tasked with chaperoning our 2023 Hyundai Ioniq 5, I'm probably the only driver who relies so much on public charging. That's not because I want to but because I have to; there's no plug at my apartment.didn't take long, but I was naive in thinking that public charging would be cheap. Sometimes it is, but that's not always the case.

Before you assume every hotel charger is gratis, know that the most expensive electricity we've bought was at one: $0.85 per kWh. Most paid sessions have been with Electrify America, EVgo, or ChargePoint. The costliest session logged at one of these networks came to $40.00 on a 350-kW Level 3 plug, which took the Ioniq 5's range from 7 miles to 198 for a cost per mile of $0.21, or $0.57 per kWh with 69.6 kWh dispensed. Elsewhere, I spent $17.11 at a 62.5-kWh charger, which added 64.

Other editors chaperoning EVs don't depend as much on public charging, which saves dough to varying degrees. Associate road test editor Erick Ayapana hasto our Ioniq 5. Over 18,288 miles, he's spent $2,120.34 on charging, or about $0.12 per mile. He has no aversion to using our office's charger , but he recently installed home charging, for which he pays between $0.32 and $0.41 per kWh—not great, but average for Southern California.

A key takeaway is that EV charging is potentially—but not always—far cheaper than buying gas, as indicated by other recent long-term review vehicles. Crossovers like theAs with gasoline, EV charging costs depend greatly on where that charging happens and what that charge goes into.

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