Why electric cars are cheaper if you’re rich

Electric vehicles are getting a lot of press lately — but can people actually afford them? Reporter Shannon Osaka has the details on fuel savings, the perils of charging, and that pesky EV tax credit (which mostly helps people who have a lot of money already).

Sources
Consumer Reports, 2020 | EV ownership cost final report [PDF]
Congressional Research Service, 2019 | The EV tax credit [PDF]
Inside Climate News | Was 2020 the year that EVs hit big? Almost, but not quite
Department of | Electric vehicle charging station locations

Extra reading
Grist | The EV tax credit can save you thousands – if you’re rich enough
Grist | How to ensure electric cars aren’t just for rich people
News Network | In Chicago, ‘charging deserts’ part of racial divide on electric vehicles
New York Times | Buying an electric vehicle? Here is some advice

This story was originally published by Grist with the headline Why electric cars are cheaper if you’re rich on May 11, 2021.

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