California's plan to go all electric on new cars by 2035 is far more ambitious than past clean-air efforts—but high risk given how unreliable the power grid is. ⚡️Will Newsom's electric car mandate save the world or stall on the freeway? Read more:
's Inflation Reduction Act is pumping money into getting more EVs on the road, including a $7,500 tax credit for some EV purchases.
At the moment, the cost of EVs is a big sticking point. The average price paid for a new car in the U.S. is about $47,000, but for EVs it's $63,000, and that number has been steadily climbing. The Nissan Leaf and Chevy Bolt, both compact cars that start at under $30,000, are difficult to find and smaller than what most consumers are looking for.
The California Air Resources Board is promising more assistance to lower-income buyers, but making sure the money gets to the people who need it will be challenging, judging by the problems existing programs have faced. So will funding the rebates. Proposition 30, which was on the California ballot on November 8, proposed a new income tax that would have raised a projected $4 billion or so largely to fund financial assistance for EV purchases, but it was defeated at the polls.
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