The EV market has been skewing in favor of consumers, making this the best time to purchase an electric vehicle. Electric vehicles are more affordable now than they have been in the past year. Prices have been cut on cars across the industry making many EV models affordable for prospective buyers. Plus, many electric cars qualify for tax credits that can be applied for through the IRS. Depending on the vehicle’s qualifications, a new EV owner can receive up to $7,500 rebate on their EV.

Automakers have been working tirelessly on innovating new electric models, so consumers have more electric vehicles to choose from. Industry leaders have been making more efforts to open more factories and create more jobs so high-demand car parts are readily available to keep up with the growing market for EVs. Since the demand for EVs is growing auto-dealerships are ensuring that EVs are readily available to drive off the lot.

On top of the tax credits, the government on state and federal branches have been accomplishing goals to expand the access to EV charging stations across the country. The Biden Administration has been allocating funds to each state to stimulate EV charging accessibility, especially along highways and in rural areas. The federal government recently launched the NEVI Program, the goal is to have EV charging stations every 50 miles along major highways and interstate roads. Businesses and workplaces have also been including EV charging on their properties in order to grow their clientele and improve their work environment.

Click here to read the full article, originally published July 24, 2023 by CBS News.