Electric vehicles are a bad bargain for everyone

If electric vehicles are as good as the Biden administration would have us believe, why are they so unpopular?

Two new reports this week show the folly of the government trying to force EVs onto unreceptive drivers. The cars are hideously expensive to produce and don’t sell even after they are subsidized.

Consider the Oct. 25 study by the Texas Public Policy Foundation. It analyzed “how regulatory credits, hidden costs, and subsidies disguise the real cost” of EVs. In 2021, $22 billion of government subsidies paid for by American taxpayers hid nearly $49,000 of the cost of producing each EV. To repeat: $49,000 of hidden costs per vehicle. “These costs are borne by gasoline vehicle owners, taxpayers, and utility ratepayers, who are all paying a hefty price for someone else’s EV,” said Jason Isaac, the foundation’s energy policy specialist.

Even massively subsidized, average electric cars cost $22,000 more than ordinary cars with gasoline engines. These expensive and unwanted vehicles don’t make up for their extra costs by being cheaper to operate. Back-end operating subsidies, which are different from manufacturing subsidies, reduce the direct cost of electricity to drivers to make it like buying gas at $1.21 per gallon, but the hidden costs of charging equipment and charging losses make the real cost $1.38 per gallon.

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