And what happens why you take away subsidies and/or tax incentives?
New report unmasks true costs of electric vehicle mandates: ‘Remain more expensive’
A sweeping first-of-its-kind analysis published by think tank Texas Public Policy Foundation (TPPF) concludes that electric vehicles (EV) would cost tens of thousands of dollars more if not for generous taxpayer-funded incentives.
According to the TPPF report — authored by energy experts Jason Isaac and Brent Bennett — the average model year 2021 EV would cost approximately $48,698 more to own over a 10-year period without the staggering $22 billion in taxpayer-funded handouts that the government provides to electric car manufacturers and owners. The analysis factors in federal fuel efficiency programs, electric grid strain, and direct state and federal subsidies.
“It is not an overstatement to say that the federal government is subsidizing EVs to a greater degree than even wind and solar electricity generation and embarking on an unprecedented endeavor to remake the entire American auto industry,” the report states. “Despite these massive incentives, EVs are receiving a tepid response from the majority of Americans who cannot shoulder their higher cost.” (snip)
The report determined that, thanks to a special multiplier that has existed for more than two decades, EVs receive roughly seven times more credits under federal fuel efficiency programs than they provide in actual fuel economy benefits. That figure, the total regulatory credits from federal and state fuel efficiency and greenhouse gas emissions standards, amounts to an average of $27,881 per vehicle for EV makers.
Of course, most people cannot really afford EVs and/or they are just too inconvenient for their lives. Even AOC stated that most EVs other than her Tesla would be a pain in the behind. And as domestic auto makers come to terms with their unions it will drive prices up higher
Further, the analysis calculated the socialized cost of EV charging stations’ strain on the U.S. electric grid amounts to an average of $11,833 per EV over 10 years. Such costs are shouldered by utility ratepayers and taxpayers, many of whom may not own an EV.
“Without increased and sustained government favors, EVs will remain more expensive than ICEVs for many years to come,” it states. “Hence why, even with these subsidies, EVs have been challenging for dealers to sell and why basic economic realities indicate that the Biden administration’s dream of achieving 100% EVs by 2040 will never become a reality.”
Even with all those favors they are outside most people’s budgets. Those that people can stretch for become a problem for range and charging. Then there’s the fact that insurance is at least 25% more. I’m not against them. I’m against government forcing We The People into them.
Read: Surprisingly, New Report Shows EVs Are Rather Expensive Vs Gas Vehicles »