Electric Vehicle Total Cost of Ownership: Cost Parity Propelled by Conflict in Ukraine

May 4, 2022

Ten years ago, the nascent electric car industry faced seemingly insurmountable challenges to mass adoption. Today, far fewer doubts remain that electric vehicles (“EVs”) will inevitably become the dominant force in transportation. Current events may ultimately prove to be a catalyst for accelerated EV adoption, as they are reminding us of the geopolitical dependencies of gasoline. Oil prices have soared since the war in Ukraine began, making it more costly for drivers to fill up their vehicles. As a result, what has long been seen as a massive gap between internal combustion engines (“ICEs”) and EVs is quickly fading.