Electric vehicle makers have increased their pricing across the board, virtually nullifying government tax credit incentives voted into law last week by Democrats.
According to economic experts, the 'Inflation Reduction Act' will not cut inflation, but purchasers of new electric vehicles with North American-made batteries are eligible for a $7,500 tax credit.
This already discounts the majority of electric vehicles.
Less than one-third are qualified.
As for the remainder, their prices have increased by thousands of dollars.
General Motors increased the price of an electric Hummer by $6,250, while Ford increased the price of its electric vehicles by $6,000 to $8,500.
What a failure of the green transition!
As we have frequently emphasized, EVs cost an average of $67,000 and are now unaffordable to the vast majority of Americans.
However, Biden's energy minions continue to promote them as a solution to high gas costs.
Biden Transportation Secretary Pete Buttigieg defends the green energy handouts — a $7,500 giveaway to wealthy Americans for electric vehicles, which have an average cost of $67K — in the Bidenflation Scam. pic.twitter.com/E3UJaOlxJe
— RNC Research (@RNCResearch) August 4, 2022
Biden Energy Secretary Jennifer Granholm insists high gas prices are "a very compelling case” to buy an electric vehicle. pic.twitter.com/pMpLIoXBKR
— RNC Research (@RNCResearch) June 14, 2022
The preceding is a summary of an article that originally appeared on Summit News.