Five myths about electric vehicles

But the existing federal tax credit for EVs gives most buyers $7,500 back. That puts the price of the electric Niro at $31,590, less than the average for a new car. As of early last year, when cars were cheaper and easier to find, the average transaction price for a new vehicle was nearly $40,000, according to Kelley Blue Book. The starting prices of several excellent EVs — including the Chevy Bolt, the Nissan Leaf and the Volkswagen ID.4 — slide under that average. The 2022 Ford F-150 Lightning starts at $39,974 before tax incentives, less expensive than many models of the gas-powered version. And as EVs get more popular, batteries should continue to get better and cheaper — which should mean better and cheaper EVs, which should mean they get even more popular.