Thanks to the EV tax credit, car buyers can qualify for up to $7,500 in government subsidies when buying an electric vehicle. In 2016, 57,066 individual taxpayers claimed $375 million in EV tax credits. These subsidies overwhelmingly benefit the wealthy. Tesla buyers, for example, had an average household income of $293,200 in 2013. A study in 2015 found that electric Ford Focus buyers had an average household income of $199,000. By contrast, the median household income in the U.S. in 2015 was $56,516.
