EV Model are becoming more and more popular. Thanks to advances in battery technology and electric motor efficiency, more EVs are being developed, offering prospective buyers a wider range of available cruising miles, prices and performance options. This allows prospective EV owners to fine-tune their choice of vehicle to match their specific needs and budget.

The biggest challenge with EVs remains the up-front purchase price, although a variety of subsidies have closed this gap in recent years. This is especially true for vehicles purchased in countries where electricity costs are lower, such as China, Korea and Japan, where the cost of an EV can be less than half that of its gasoline-powered counterpart.

Another challenge is that a full charge takes much longer than the fill-up process of an ICE car, meaning drivers must be more vigilant about keeping their batteries topped up. However, this issue is likely to be resolved as charging station networks expand and more EV models are available.

To determine if an EV is right for you, potential buyers should take into account a number of factors including the model’s efficiency, how much driving you plan to do each year, regional electricity rates and your typical charging habits. For example, most experts agree that an EV gets between 3 and 4 miles of range per kWh of electricity. To estimate how much it will cost to charge your EV, divide its estimated cruising range by the number of miles you drive each month and multiply that by your average monthly electric bill.

Also, consider whether your state offers credits or fees specifically for EVs, which can offset some of the lost gas taxes that would otherwise be incurred. For instance, in California, a driver can receive up to $5,000 in rebates for an eligible EV.

Currently, most major automakers offer an EV Model of some sort, with most introducing several more by 2025 to meet a government target for widespread adoption. New EVs include compact sedans such as the Nissan Leaf and Chevy Bolt, crossovers like the Tesla Model X and Toyota Prius V, and trucks such as the Chevrolet Silverado and Hummer EV.

Startups are also working on EVs. For example, German startup Sono Motors is working on the Sion, a solar-powered SEV that can go for days on power from the sun. Dutch company Lightyear is developing a similar SEV called the Ocean, while American startup Lucid Motors is focusing on luxury segments with its single EV model, the Lucid Air Dream Edition. In the near future, startups such as Canoo, Faraday Future, Nikola, Arrival, Lordstown and Workhorse may bring more EV models to the market. EVs are not only helping reduce greenhouse gases, but they are also bringing about economic benefits to their manufacturers and the wider economy. This is because the EV manufacturing industry is creating jobs and generating revenues that can be used for other purposes such as research and development, distributions to shareholders, buybacks or paying debts.