Electric Car Tax Credits Put Vehicles Within Consumers’ Reach

As the average price of gas continues to surge, more U.S. consumers might be considering buying an electric car. According to auto club AAA, from May 2 to May 6 the national average for a gallon of regular gasoline increased by five cents to $4.24. Russia’s invasion of Ukraine also has pushed prices higher.

The conventional wisdom has been that plugging in and charging up a battery-powered car will cost an owner less than filling up a gas tank. But EVs are more expensive — many models on the market in the U.S. are beyond the means of the average consumer. The cheapest Tesla, a ...