How to make electric cars affordable for everyone

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Electric vehicles (EVs) are getting more popular, and more people are starting to buy used ones.

However, a study from Rutgers University has found that these cars are still mostly bought by wealthier people.

The study, led by Wei San Loh, a former student at Rutgers, suggests we need better policies and support to make these cars more affordable for everyone, especially those with lower incomes.

Loh’s research was published in “Transportation Research Part D: Transport and Environment.” Together with Robert B. Noland from the Rutgers Alan M. Voorhees Transportation Center, they surveyed 1,167 used EV owners from different states in September and October of 2022.

They found that high prices, concerns about where to charge the cars, and worries about battery life are the biggest barriers stopping more people from buying used EVs.

People who earn less than $50,000 a year are particularly concerned about finding places to charge their cars.

Those on the lower end of the income scale are less worried about battery life, probably because they don’t travel as far each day.

Also, those earning less than the national median income ($75,000) are more worried about the cost of the cars compared to those earning more than $150,000.

The study shows that we need to make electric cars more appealing and accessible to everyone, not just the wealthy. Loh suggests that improving the number of charging stations and offering more subsidies for buying used EVs could help.

Loh, now a senior statistician at the University of Michigan, points out that people usually compare electric cars with traditional gas-powered cars.

Therefore, we need creative solutions to make used electric cars a more attractive option for buyers of all income levels.

This will help more people adopt electric vehicles and reduce pollution from gas emissions.

Source: Rutgers University.