The savings is in the not putting miles on, or owning a car at all. Gas costs are a tiny fraction of car use costs.
My current daily rider is very expensive as ebikes go. It's huge, it's fast, it's covered with saddlebags that catch the wind like a tying a trash can to the bike. Previous smaller and slower ebikes have been at least 6 cents per mile cheaper to operate. Cost of the battery per mile goes way down if you ride slow. Now I ride this thing at 30 mph most of the time.
But, Its still a ton cheaper per mile than a car. Assuming 10,000 miles, including several sets of tires and brake pads, the bike itself costs about 7 cents per mile. So all in, about 21 cents per mile. This is very comparable to a gas moped in total costs, but the moped could only carry a fraction of what that longtail can carry. In addition, the 50cc gas moped sucked in many ways. Noisy, spewing stinky 2 stroke smoke, and vibrating your hands and ass to death.
The longtail on the other hand is just as fast, but oh so much more pleasant to ride, adjustable to fit my body, and can carry a shitload of groceries, or even tour long distances.
Another vehicle worth comparing with is the small motorcycle or scooter. 150cc. About the same cost per mile, at 25 cents or so in my state, and my good driving record. But the china scooter I had was designed to fit a tiny person. I tried this and that, and it simply could not fit my body. It was unbearable to ride it further than 5-8 miles. I'm comfy on the cargo bike for at least 30 miles. It was faster by far, but unusable to commute to work for me. On the streets, the speed limit made it no faster than the bike, and on the freeway it was terrifyingly too slow. I found riding it on the streets tedious, since I could not use all my bicycle short cuts. In my town, a bike can go routes cars cannot.
I am still interested in a larger scooter, but don't have cash to buy one now. The Suzuki Burgman 350 fits my body just fine. I passed on a great deal on the 650, since I did not want that much speed and power.
Anyway, I've tried this and that, had motorcycles and scooters from 50cc to 750cc, and still find that ebike to be my favorite way to get around. The cost is one reason to bike, but on the list of 100 reasons, it's about number 70.