The Economics of Electric Cars and Biofuels

An electric car or battery electric car is simply defined as an automobile that is propelled by one or more electric motors, using energy stored in batteries. Compared to internal combustion engine (ICE) vehicles, electric cars are quieter, have no exhaust emissions, and lower emissions overall. In the United States and the European Union, as of 2020, the total cost of ownership of recent electric vehicles is cheaper than that of equivalent ICE cars, due to lower fueling and maintenance costs. Charging an electric car can be done at a variety of charging stations; these charging stations can be installed in both houses and public areas.