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IPFS News Link • Legislative Mischief

Overconfident? Companies Raise Prices of Electric Vehicles More than New Federal EV Taxpayer Subsidy

• Activist Post

By B.N. Frank

Research has determined that many Americans still aren't interested in investing in Electric Vehicles (EVs).  Who can blame them?  EVs have been associated with high costs, fires (see 1, 2, 3, 4, 5, 6, 7, 8, 9), and other considerable issues.  Fire issues actually led to a U.S. investigation and numerous recalls.  Despite all of the above, it's possible that the recently passed $7,500 EV taxpayer subsidy may persuade more Americans to take a chance on an EV.  Of course, companies raising their EV prices significantly more than the subsidy itself may backfire.  From Zero Hedge:

Ford Hikes Price Of EV F-150 Up To $8,500, More Than Biden's "Inflation Reduction" Subsidy

By Tyler Durden

Today in both "price fixing is useless" and "your taxpayer dollars at work" news…

In a move that can only be described as conspicuously timed, Ford announced last week that it is raising the price of its high-end electric F-150 by up to $8,500; an amount that adds another $1,000 onto the new $7,500 EV subsidy that was including in President Biden's "Inflation Reduction Act". Base models are seeing their prices hiked by $7,000.

Biden signed his "flagship" act on Tuesday afternoon.