But that figure is based upon a number of assumptions, including whether the buyer lives in a state with large electric car tax incentives, like Colorado; that the buyer will claim tax deductions for using the car for business purposes; and that time that might have otherwise been spent at a gas pump is worth $100 an hour.
The president also asked for a change in the structure of electric vehicle tax credits, saying that dealers should get the credits, then pass the price reduction on to buyers who currently have to wait up to 15 months to see the money that tax credits return.
The federal electric vehicle tax credit gives consumers a $7,500 credit when they buy an all-electric vehicle.
After midnight Monday, the $7,500 federal electric vehicle tax credit will drop to $3,750 for anyone buying a Tesla vehicle.
Tesla, GM and Nissan are among a group of 15 companies that launched a new coalition aimed at reforming the electric vehicle tax credit.
The electric vehicle tax credit won't die without a stirring defense — major automakers are moving their considerable lobbying might behind defending the credit, according to Automotive News, in the face of its proposed elimination in the new tax plan laid out by Republicans last week.
The coalition, which officially launched Tuesday, wants to pass legislation that would tweak the federal electric vehicle tax credit to "ensure that it works better for more consumers for a longer time frame and spurs increased growth of the U.S. EV market".
Beyond the floor plan issue, the Electric Drive Transportation Association wants Congress to preserve a $7,500 electric vehicle tax credit.
But Cantwell acknowledged that there is no political will in Congress to prod consumers to switch to electric by taxing gasoline heavily, as is done in Europe.
That is because drivers will spend $714m on petrol to get around (in contrast with the $261m they would have paid in electricity bills), and will no longer fritter away their savings from the federal electric-vehicle tax credit in Georgia's shops.
