A recent tax hike in California is responsible for further increasing the state’s already high gas prices. Now, gas costs an average of almost $4.00 per gallon in the Golden State. Other states are following suit and raising gas taxes since people are driving more fuel-efficient cars, thus paying fewer gas taxes.
Battery production is increasing, technology is improving, and battery prices are coming down. This means electric cars are becoming less expensive to buy. Moreover, electric cars are significantly cheaper to own over time due to better efficiency, reasonable prices for electricity, and less maintenance. Electric vehicles have fewer moving parts and fewer fluids to change than traditional cars, so long-term savings can be substantial.
It’s important to note that cars using battery power alone qualify for a federal electric vehicle tax credit of $7,500.
to make the switch to electric and take advantage of the rebate.