How much money will an EV save you?

(Coda Automotive)

If you've ever wondered how much money it'll cost to run an electric vehicle (EV) compared to a gas car, California-based Coda Automotive has come up with the tool for you.

The Impact Calculator on the firm's website takes details about the efficiency of your current car and the price of fuel, along with the price of electricity in your area, and produces a neat comparison of what consumers are set to save driving a Coda.

The firm is set to begin shipping its $45,000 (€38,873) EV at the end of this year and predicts that it will have delivered around 14,000 vehicles by the end of 2011.

The model predicts that a Californian driver of the Toyota Camry, the best-selling vehicle in the US, will save $543 (€432), and even a Prius hybrid driver would save $238 (€189).

However, a May study by analyst Pike Research found that US consumers are actually set to save the least on EVs, primarily because of the low cost of gas (which is heavily taxed in most other countries).

Pike found that while a consumer in Norway would save around $2,000 (€1,594) using a typical EV, a US consumer would save just $813 (€648).

Calculate your EV savings: http://www.codaautomotive.com/savings_calculator.html

The best countries in the world to drive an EV
Ranked by annual savings, most to least

1. Norway
2. Great Britain
3. France
4. Japan
5. Germany
6. The Netherlands
7. China
8. South Africa
9. United States

Data from Pike Research http://www.pikeresearch.com