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A lot of things about the switch to EVs will screw over low-income people, at least for a while. The price floor for used EVs is going to be higher than the pr
by twblalock 4y ago
A lot of things about the switch to EVs will screw over low-income people, at least for a while.
The price floor for used EVs is going to be higher than the price floor for used gas cars. You won't be able to buy a $1000 hoopty EV with 200k miles on it because it will need several thousand dollars in replacement batteries to be drivable. Therefore the price floor will be the cost of replacement batteries.
At the same time, banning new gas car sales will drive up the value of older gas cars as people scramble to hoard them, resulting in price increases for used gas cars which will also hurt low-income people.