CHICOPEE, Mass. (WWLP) – In August of this year Governor Baker signed a major climate bill that requires all new vehicles sold in Massachusetts must be electric by 2035.

Electric Vehicles (EV) are seen as a way to reduce carbon emissions while making us less dependent on gasoline, which has seen a rapid increase in price. There are also state and federal rebates.

But, EVs also have economic impacts that some people may not realize when considering a purchase. Insurance and depreciation can increase while resale or trade-in value can be lower than a gasoline-powered vehicle.

22News I-Team reporter Alanna Flood researched the pros and cons of EV ownership and discovered other costs that consumers need to know before buying an EV. Watch the report on the hidden costs of electric vehicles, Thursday on 22News at 6 p.m.

Next week, there will be a second report looking at the lithium-ion batteries in EVs and how fire departments across the state are now being trained on how to handle electric car fires.