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Taxpayers are subsidizing rich electric-vehicle owners ‐ to the tune of billions
[NYP] A new report has exposed electric vehicles as wasteful money pits, living up to the adage: If it seems too good to be true, it is.EV proponents often claim they’re cheaper to own than conventional gas- or diesel-powered vehicles, but that’s simply not true after accounting for the billions of dollars in costs government subsidies and mandates quietly conceal. The stark reality is the average EV costs at least $53,000 more over 10 years than conventional vehicles, effectively doubling the price of the average new car. But $22 billion in government handouts to EV owners and manufacturers absorb the extra expense at every stage of the vehicle’s life, from raw-material sourcing to battery charging. Examining the numbers behind recharging makes this very clear. While EV advocates claim charging costs are equivalent to $1.21-per-gallon gasoline, the real amount is an order of magnitude more. Including the charging equipment, subsidies from governments and utilities and other frequently excluded expenses, the true cost of charging an EV is equivalent to $17.33-per-gallon gasoline — but the EV owner pays less than 7% of that. Over 10 years, almost $12,000 of costs per EV are transferred to utility ratepayers and taxpayers, effectively socializing the price of recharging an EV while keeping the benefits private. Due to high entry price points — the average EV costs $58,000, the average gas vehicle $33,000 — most EV consumers are affluent. Posted by: Besoeker 2023-11-08 |
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