The true cost of EVs is masked by a litany of subsidies, transfers, and other expenses that are passed on to Americans who don’t own EVs, the report states.
Despite predictions that electric vehicles (EVs) will soon be cheaper than gas-powered cars, a new study argues that the “socialized costs” of EVs, or the amount that is not paid by the buyer but by all Americans in the form of taxes, subsidies, and higher electricity costs, can sum to as much as $48,000 per vehicle over its expected 10-year life.
