New Study Exposing the True Cost of Electric Vehicles
Today, the Texas Public Policy Foundation released a new study to analyze how regulatory credits, hidden costs, and subsidies disguise the real cost of electric vehicles
With the Biden administration’s continued push for electrification and states such as California implementing laws to ban the sale of gas-powered cars by 2035, Overcharged Expectations: Unmasking the True Costs of Electric Vehicles reveals the regulatory tricks at play and how these costs are socialized on to taxpayers and gas vehicle owners.
This study was also submitted as part of a public comment on the National Highway Transportation Safety Administration’s proposed fuel economy standards.
“The Biden administration and leftist states such as California have pushed for widespread electrification in less than 20 years through government subsidies and coercive regulations, but the price you see in the lot is not the true cost of an electric vehicle,” said TPPF’s Jason Isaac.
“Electric vehicle owners have been the beneficiaries of regulatory credits, subsidies, and socialized infrastructure costs totaling nearly 50 thousand dollars per EV. These costs are borne by gasoline vehicle owners, taxpayers, and utility ratepayers, who are all paying a hefty price for someone else’s EV.”
“Proponents of EVs have falsely pushed the claim that EVs will soon cost less than gas-powered cars. This study shows that EVs are still a long way from being competitive without massive subsidies,” said TPPF’s Brent Bennett.
“The Biden administration’s stringent fuel economy standards and regulatory manipulations are driving American automakers toward bankruptcy and adding thousands of dollars to the cost of every gasoline vehicle. Rolling back these subsidies and burdensome regulations would save consumers money and stop the auto industry from falling off a financial cliff.”
Key Points:
- The cost of producing electric vehicles (EVs) is far higher than the prices they are being sold for. Nearly $22 billion in federal and state subsidies and regulatory credits suppressed the retail price of EVs in 2021 by an average of almost $50,000.
- Thanks to an unlawful multiplier, EVs receive nearly seven times more credits under federal fuel efficiency programs than they provide in actual fuel economy benefits.
- Regulatory credits with bonus EV multipliers from federal fuel efficiency and greenhouse gas emissions standards and state EV sales mandates provide an average of $27,881 in benefits per vehicle for producers of EVs.
- Home and public charging stations used by EVs put a significant strain on the electric grid, resulting in an average of $11,833 in socialized costs per EV over 10 years, which are shouldered by utility ratepayers and taxpayers.
- Direct state and federal subsidies for EVs average $8,984 per vehicle over 10 years.
See more here texaspolicy.com
Header image: Inside EVs
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Howdy
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The cost is allready known: The planet itself, and (most of) the inhabitants. It’s insidious. It’s not even a good scam, and the holes are glaringly bright, as well as the scammers involved, particularly the motor manufacturers.
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Dave
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EVs, Unsafe at any Speed!🔥🔥🔥
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Richard Greene
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The study is biased baloney
The subsidies for wind and solar power are binned to the lifetime costs of EVs. That is nonsense.
The EV owners manuals do not specify that they are to be charged only with electricity from windmills and solar panels.
Subsidies for renewable energy and subsidies for EVs (such as the $7500 tax credit in the US) are two separate subjects.
An honest comparison would show that the average EV purchased in the US now, WITH the $7500 tax credit, is cheaper than the average ICE vehicle purchased now in the US. And the lifetime costs should be lower for EVs too, unless the insurance costs increase as they have in the UK.
Lifetime costs must be lower to sell EVs, because most people do not want a small EV with limited range Many people in the US want a cheaper small ICE car or a lICE pickup truck. For those households who do own an EV, they are second or third vehicles 90% of the time and the owners tend to be relatively wealthy virtue signalers.
The US auto companies are finding that most people consider EVs to be worth less than ICEs, but the auto companies have been charging more for the same size vehicle. That’s why the most popular EVs are small cars, not large pickup trucks.
I am retired from product development at a US auto manufacturer. The last engineer I knew there retired at the end of last year. He was an electrical engineer working on a 2026 EV model. In general, the engineers could not see how their company could survive selling mainly EVs that few customers wanted. The engineers were pessimistic about the EVs they were designing. In my 27 years at the company, engineers were usually overoptimistic about products they were developing, never pessimistic.
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Andrew
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I would be too embarassed and guilty to reveal my association with the EV Auto Industry.
As a Engineering Design Engineer it took me only a short time to find damning evidence EV,s are not only pointless and used to push a false scientific lie ,Climate Chnage ,Global warming nonsense.But that they are also dangerous to your health…
Dangers of EMF Radiation from Tesla Cars and Other Electric Cars.According to a study by Scripps Clinic Research Foundation, high levels of EMF from EVs make the drivers drowsy and sleepy while driving. Based on the study, drivers who are exposed to high levels of EMF while driving are likely to sleep 52 minutes faster than those exposed to low levels of EMF.In addition, exposure to radiation while driving can result in headaches, neck stiffness, and dry eyes or blurred vision. Long-term exposure to these sources of EMF radiation may have long-term health complications.EMF Radiation from Electric CarsAccording to Dr. Joel Moskowitz at the University of California Berkeley, hybrid cars and other electric cars have increased levels of ELF that cause cancer, leads to DNA fragmentation, cause cell damage, fertility issues, drowsiness, etc. https://emfguardtips.com/do-electric-cars-emit-emf/
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Richard Greene
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I read rge EMF article
It has many conclusions not supported by data
Therefore, I reject the conclusions
I require facts, data and logic to support conclusions, or at least multiple anecdotes, that I did not see in the article.
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Richard Greene
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I read the full EMF article you referenced.
It has many conclusions not supported by data
Therefore, I reject the conclusions
I require facts, data and logic to support conclusions, or at least multiple anecdotes, that I did not see in the article.
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Herb Rose
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Hi Richard,
You require facts, data, and logic but when it comes to the GHGT an experiment with all these attributes is not enough for you to change your beliefs and admit you were wrong. Even Savanti admitted he as wrong.
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Itsme
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who wants to buy an elecric mini with botox lips?
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