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Senior Fellow, Business and Economics
Pacific Research Institute
Electric vehicles are heavily subsidized by the federal, state, and local governments. Based on a study I just completed, the federal subsidies for electric vehicles are worth over $42.7 billion to their recipients over the lifetime of the programs. They include the federal grant and loan programs for manufacturers, and the consumer tax credits worth $7,500 per consumer. State and local governments also provide tax credits to purchase electric vehicles (up to $7,500 per consumer), subsidize investments in charging stations, and even offer perks such as access to HOV lanes, access to free vehicle charging, and free meter parking (in… [more]
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Tesla will not be able to sell their electric cars directly to consumers in Michigan after Governor Rick Snyder signed bipartisan legislation on October 21st that clarifies existing state auto sales laws. Tesla has been fighting with numerous states to maintain their preferred, and successful, business model of selling vehicles directly to consumers, as opposed to the traditional method of selling to franchised dealerships that sell to consumers. The Michigan legislation isn’t unique; forty-eight states have had laws in place for years that ban or limit direct sales of automobiles. In the early years of the auto industry, manufacturers needed… [more]
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