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Why $4 gas won’t spark an EV buying spree
Online interest in electric vehicles rose 25% as gas prices climbed, but higher EV costs and reduced tax incentives led to a predicted 20% drop in US EV purchases this year.
By Chris Isidore, CNN (CNN) — Yustine Chang and her husband only have half the concern about gas prices they did a week ago. The soaring price of gas near their Southern California home wasn’t the only reason they replaced their eight-year-old Mercedes C-class sedan with their first electric vehicle, a Rivian R1 SUV. But it made the decision easier. Especially since their other car, a three-year old Mercedes GLS SUV, is a “gas eater.” “The last …