Great Lakes Wire

The recent push to ramp up electric vehicle (EV) production has led many consumers to consider the pros and cons of purchasing one.

The Wall Street Journal reporter Rachel Wolfe, along with a friend, decided to rent a Kia EV6 for a round trip from New Orleans to Chicago. Wolfe described the 2,013-mile adventure as a "four-day, three-night EV road trip included many charging stops, little sleep — and less junk food than you might expect." In order to make the trip, Wolfe had to charge the EV 14 times, which cost her $175 and spent 18 hours idling.

"I thought it would be fun," she wrote in WSJ. "That’s what I told my friend Mack when I asked her to drive with me from New Orleans to Chicago and back in an electric car. I’d made long road trips before, surviving popped tires, blown headlights and shredded wheel-well liners in my 2008 Volkswagen Jetta. I figured driving the brand-new Kia EV6 I’d rented would be a piece of cake. If, that is, the public-charging infrastructure cooperated."

In Michigan, there are currently 8,626 EV charging stations to help motorists who need to charge, according to PlugShare.

According to the University of California Davis EV Research Center, EVs can go an average of 250 miles on a single charge. Battery type and the charging station in operation can also be factors on how far an EV can travel, with a 120V charger lasting over 20 hours and a 240V charger going for four to eight hours. Electric vehicles that can handle fast charging can get an 80% charge in just 20 minutes.

However, a Consumer Reports survey found that six in 10 Americans are reluctant to purchase an EV due to lack of charging stations. The range of travel was also a factor, with 55% saying that the charge was a major concern when considering buying an EV.

In addition, the survey reported that two-thirds (63%) of Americans who were asked would not purchase an electric vehicle today. Of those who said they're concerned about cost-related factors, 58% of respondents said the high purchase price of an EV is holding them back from buying.

This was a notion that Wolfe dealt with on her trip. The equivalent cost for gas in a Kia Forte would have been $275, according to AAA average national gas price data during the time of their trip. However, Wolf said, "That $100 savings cost us many hours in waiting time."

In accordance with his clean energy stand and commitment to having EVs make up 50% of new car sales by 2030, President Joe Biden extended a $7,500 tax credit for buyers of new all-electric vehicles under the new Inflation Reduction Act signed into law this month. However, according to Seth Goldstein on CNBC, a senior equity analyst at Morningstar, the tax credit has "price and income restrictions." For instance, sedans must be sold at a price below $55,000 to be eligible, while larger vehicles such as SUVs must be purchased below $80,000 in order for the buyer to receive a tax credit.