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AmextaFinance > Finance > The electric car vs. plug-in hybrid debate: Which should you buy?
Finance

The electric car vs. plug-in hybrid debate: Which should you buy?

News Room
Last updated: 2023/07/12 at 7:17 AM
By News Room
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Electric cars vs. plug-in hybrids — what to know

Contents
PHEV vs. EV: What’s the difference?Electric cars: pros and consPlug-in hybrids: pros and consIs there a tax credit for electric cars?
  • Fully electric vehicles rely on battery packs and use no gasoline. EV drivers charge the battery at home or public charging stations.

  • Plug-in hybrid vehicles use battery power for driving shorter distances, often around 30 miles. When battery power depletes, a gas-powered engine takes over.

  • Some buyers may be eligible for federal tax credits when purchasing either.

Suppose you are interested in buying a new car focusing on the latest fuel-efficient technology. Then you may be trying to choose between a plug-in hybrid electric vehicle (PHEV) vs. a battery-powered electric vehicle (EV or BEV).

Both types of cars include a cord that plugs into an electrical outlet for battery recharging. But there are also hybrid electric vehicles (HEV), which do not have a plug-in device. This article addresses only the plug-ins — PHEVs and EVs.

Learn more: What is EV, BEV, HEV, PHEV? Here’s your guide to types of electric cars

So, between a fully electric vehicle and a plug-in hybrid, which one is right for you? We have researched the benefits and drawbacks to answer the essential questions you have.

PHEV vs. EV: What’s the difference?

Before we cover the benefits and drawbacks of plug-in hybrid cars versus electric cars, we must understand the vehicle types.

Hybrid cars are powered by both gasoline and electricity. Most hybrids have a standard 12-volt battery like conventional gas-powered cars but also have higher-voltage battery packs. Those cells capture and redistribute energy as needed to help the vehicle burn less gas and achieve better fuel economy.

Plug-in hybrid cars are exactly what their name suggests: They’re hybrid cars that plug into an electrical outlet. Examples include the Toyota
TM,
-1.14%
RAV4 Prime and the Ford
F,
+1.06%
Escape PHEV. Essentially, plug-in vehicles use two different powertrains, both of which can drive the wheels. An electric motor allows drivers to go a limited distance (anywhere between 16 and 50 miles, depending on the vehicle). When the battery that feeds the electric motor is drained of power, a gasoline-powered engine kicks in.

On the other hand, electric vehicles are powered solely by electricity, meaning they don’t use gasoline. Well-known electric cars include the Kia
000270,
-0.11%
EV6, Ford Mustang Mach-E, and the Tesla
TSLA,
+0.07%
Model S. Electric vehicles get their power from batteries, which feed an electric motor. The difference is that EVs have no backup engine to take over when the batteries run out of juice. Usually, they have more room for batteries since they don’t have to make space for the gasoline engine. That means fully electric cars offer a more extended electric-only range than plug-in hybrids.

Read: The 2023 Subaru Solterra reviewed: Price, range and more for this new electric SUV

Electric cars: pros and cons

Electric vehicles offer several advantages over plug-in hybrids.

Electric car benefits

  • The main attraction for some buyers is that electric vehicles benefit the environment more than plug-in hybrids. EVs don’t use any gasoline at all. That’s a big deal for shoppers looking to minimize their carbon footprint as much as possible.

  • Electric vehicles may help drivers save more money than plug-in hybrids since they don’t use gas. Most charging happens overnight at home, though EV owners usually need to pay at public charging stations.

  • Another positive thing about fully electric vehicles is that they are fun to drive. The popularity of Tesla models has a lot to do with their incredible acceleration. The 2023 base Model S Long Range touts a 0-60 mph time of 3.1 seconds. You will not understand the thrill of experiencing low-end torque like that until you drive one of these vehicles in complete silence.

Electric car disadvantages

Of course, there are some drawbacks to EVs.

  • Electric cars cost more upfront than similar PHEV models.

  • Another downside to all-electric cars is the range. Depending on the model, some plug-in hybrids can travel up to 60 miles on electric power plus 200 to 300 miles using gasoline. The fully electric 2023 Nissan Leaf S
    7201,
    +0.35%
    can get about 150 miles on a single charge. The 2023 Chevrolet Bolt gets 259 miles from a full battery. While the range of electric cars is sufficient for daily use for most drivers, a PHEV might be better for weekend getaways or long-distance road trips. However, the technology in electric car batteries continues to improve capacity and recharge times. Plus, the increasing availability of charging stations makes it easier for EV owners to travel away from home.

Don’t miss: The 2023 Rivian R1T electric pickup: What it’s like to drive, pricing, range and more

Plug-in hybrids: pros and cons

Of course, plug-in hybrid cars also offer advantages and disadvantages.

PHEV pros

  • The primary benefit of a PHEV is range. Electric vehicles can only travel as far as their batteries allow before needing a recharge. Plug-in hybrids also have a gasoline engine and an electric powertrain. The result is that plug-in drivers get the best of both worlds. They get electric-vehicle efficiency around town and traditional car range for longer trips.

  • Also, the price of a plug-in hybrid is usually less than electric-only cars. However, the price of a regular hybrid vehicle is typically thousands less than the plug-in variety.

You might like: The 10 best hybrid SUVs for 2023

PHEV cons

Regarding disadvantages, a plug-in has a limited “electric-only” range — up to just 60 miles in today’s offerings, but as low as 16 miles. So, by buying a plug-in hybrid, you still have the operating cost of paying for gas, although much less than a gas-only vehicle. The cost can be a decisive factor in the fight between electric cars versus plug-in hybrids.

Read: Most car shoppers are looking for hybrids, not EVs

Is there a tax credit for electric cars?

If your primary purpose for buying a new car with a fuel-efficient focus is gas-pump savings and tax rebates, no problem. Both plug-in hybrids and electric cars will benefit you. Federal tax credits of up to $7,500 apply to eligible PHEVs and EVs, as do most state tax credits. Even states that allow alternative-fuel carpool-lane use tend to allow both plug-in hybrids and EVs to use with single occupants.

See: EV checklist: See which electric vehicles get a tax break on new list

In other words, you can’t go wrong when deciding between plug-in hybrids versus electric cars. You’ll have to decide on the one that works best for your situation.

Many buyers are taking the all-electric choice today, and the sales gap between EVs and hybrids and plug-in hybrids is shrinking. Two years ago, HEVs and PHEVs accounted for about 70% of electrified vehicle sales; EVs’ portion was 30%. The split last year was approximately 55% and 45%, respectively, and analysts expect the difference to narrow in 2023 sales.

This story originally ran on Autotrader.com.

Read the full article here

News Room July 12, 2023 July 12, 2023
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