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A man assembles a VW EV in a plant in Germany

EVs Are More Expensive Than We Thought, Costing Industry Billions

We've kind of been programmed to think that EVs are cheaper than gas cars. For example, the cost of parts is less than gas vehicles simply because there's less bouncing around under that hood. It's just a brushless motor and some electrons. Gross oversimplification, I know. Moreover, we've been told that the cost to go places is less. That's true, but the infrastructure needed to support electric vehicle charging isn't cheap. Biden's electric vehicle plan will cost trillions. However, the electric vehicle push is already costing automakers billions.