Skip to content
Green
Hyperdrive

Electric Vehicles Are Out of Reach for Most U.S. Consumers

More than supply shortages affecting manufacturing, the bigger problem with EVs is the hefty pricetag.

A ChargePoint EV charging station at the Mercedes-Benz of Louisville in Kentucky.

A ChargePoint EV charging station at the Mercedes-Benz of Louisville in Kentucky.

Photographer: Luke Sharrett/Bloomberg
From

Stay on top of the electric car revolution by signing up to our Hyperdrive newsletter here.

In a recent conversation with a car dealer in the Dallas area, I was asked who will afford all the electric vehicles that are coming to market in the next several years. Despite all the hype for EVs, the dealer told me, many of his customers live paycheck to paycheck and bargain for every dollar of their monthly car payment. A $60,000 Tesla isn’t happening.