The retail price of an average model year 2021 electric vehicle would cost about $50,000 more if not for significant taxpayer-funded support, a new study shows.
The Texas Public Policy Foundation (TPPF) released a new report showing that the true cost of producing EVs is far higher than the prices at which they are being sold. According to the study, nearly $22 billion in taxpayer-funded incentives are being used to disguise the true retail price of EVs.
“Electric vehicle owners have been the beneficiaries of regulatory credits, subsidies, and socialized infrastructure costs totaling nearly 50 thousand dollars per EV,” said TPPF’s Jason Isaac in a statement. “These costs are borne by gasoline vehicle owners, taxpayers, and utility ratepayers, who are all paying a hefty price for someone else’s EV.”
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