TCO is even better for electric. Near zero maintenance. The depreciation is real, but only if you plan to sell it at it’s half life. If you plan to hold it a long time, depreciation evens out.

My EV is ten years old and cost $30k. It’s paid for itself twice over in just gas. More if I factor in the zero maintenance (not totally zero. I changed the tires a few times and had to replace a trunk component). The resale on it is about $8k lower than an equivalent ICE. But for me, the EV was a good deal.

I’d definitely recommend getting a used one though. I bought mine new, and that makes the numbers worse.