‘Overcharged’: Major Study Reveals Alarming True Cost of Owning an EV, ‘Fueling’ Equal to $17.33 Per Gallon
A new study called “Overcharged Expectations” claims that without federal subsidies, the real cost of fueling an electric vehicle would amount to $17.33 per gallon of gasoline.
The study from the Texas Public Policy Foundation said electric vehicles do not stand alone in comparison with other vehicles because of the “wide array of direct subsidies, regulatory credits, and subsidized infrastructure that contribute to the economic viability of EVs.”
“Adding the costs of the subsidies to the true cost of fueling an EV would equate to an EV owner paying $17.33 per gallon of gasoline. And these estimates do not include the hundreds of billions more in subsidies in the Inflation Reduction Act,” the report said.
The study claims that a 2021 electric vehicle “would cost $48,698 more to own over a 10-year period without $22 billion in government favors given to EV manufacturers and owners” and said traditional gasoline-powered vehicles are cheaper than an electric vehicle without subsidies.
