Electric Vehicle Price Comparison: What's the Real Cost Difference Between Hyundai Kona, MG ZS and Kia Niro Electric Vehicles and Their Gasoline counterparts?
The Hyundai Kona Electric costs about $30,000 more than the 2.0-litre petrol versions.
What is the real cost of an electric vehicle (EV)?
A recent article in a major popular publication states that the average price difference between an electric car and a petrol or diesel equivalent is $40,000.
However, we'd dispute that claim, as price comparisons for electric vehicles can often be tricky, given that electric options are often fully loaded with equipment to also justify their higher price tags.
In addition, many brands often sell their electric vehicles as standalone models, such as the Audi e-tron or Hyundai Ioniq 5, which are built on their own platforms and may be similar in size to other nameplates but end up being very different.
However, another question arises: what is the real price difference between an electric car and an equivalent petrol model?
Luckily, there are several examples of brands that offer both an all-electric powertrain and a petrol or petrol-electric hybrid under the same nameplate, making this comparison easier to understand.
Hyundai Kona
This is a simple comparison to start with. Hyundai offers the Kona with either an electric motor or a 2.0-liter petrol engine. It also offers both powerplants paired with matching specifications: Elite and Highlander.
The petrol-powered Konas is $31,600 pre-travel for the Elite and $38,000 for the Highlander, while the EV Elite starts at $62,000 and the EV Highlander starts at $66,000.
This amounts to a $30,400 difference between the two Elite models, but a slightly smaller $28,000 difference between the Highlanders.
MG ZS
The previously mentioned ZS EV is the most affordable electric model currently available for $44,490.
The closest gas model is the Essence trim, priced at $25,990. This provides the smallest price difference between an electric car and a gasoline-powered model on our list, at just $19,000.
Kia Niro
Earlier this year, the South Korean brand unveiled its first electric vehicle, the e-Niro compact SUV. But they didn't stop there, offering the Niro in both hybrid and plug-in hybrid (PHEV) powertrains.
We decided to compare the “S” trim line of all three: the S Hybrid starting at $39,990 excluding travel expenses, the S PHEV starting at $46,590, and the S Electric starting at $62,590.
That amounts to a $22,600 difference between an all-electric and a gas-electric hybrid, and only $16,000 between an EV and a PHEV.
Mazda MX-30
Mazda is another relative newcomer to the EV market, having introduced the MX-30 with either a mild hybrid or all-electric powertrain.
The electric car is only available in the high-end Astina specification, priced from $65,490 to $40,990 for an Astina hybrid model.
This means the price difference between the two powertrains is $24,500.
Volvo XC40
Last but not least on our list of electric vehicle comparisons is the Swedish compact SUV. It is available with either a 2.0-litre petrol engine, a PHEV, or an electric car under the hood, but neither model is up to specification.
The R-Design petrol starts at $56,990, the plug-in hybrid starts at $66,990, and the Recharge Pure Electric starts at $76,990.
This gives a relatively simple equation of the $20,000 difference between EV and gasoline and only $10,000 between EV and PHEV.
Based on this lineup of models, we have calculated that the average price difference across all of these options is actually $21,312, which is much less than the reported $40,000 difference.
As this comparison shows, while electric vehicles are becoming more numerous and, in some respects, more affordable, there is still a long way to go to achieve price parity between a gasoline-powered model and its battery-powered counterpart.
