Car companies announce plans to produce "affordable" electric cars to help consumers avoid price gouging at the pump

Kristen Walters

Major car manufacturers like General Motors and Honda want to make electric cars "more affordable" to consumers.

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The national average cost for a gallon of gas is currently hovering around $4.18. This was somewhat understandable at the end of February when the price of oil surged due to the start of the conflict between Russia and Ukraine.

However, oil executives who raked in record profits at the expense of consumers are being accused of "price gouging." Apparently, the situation has become so profound that Congress is holding a hearing on Wednesday where companies like Chevron, Exxon Mobil, and BP will have to testify and make their case for why prices at the pump were "raised arbitrarily."

The problem with the situation is that most people drive gas-powered vehicles. While some consumers prefer traditional fuel-powered cars, others feel that they don't really have a choice in the matter because electric vehicles are too expensive for their budget.

General Motors and Honda what to give consumers more options so that they can potentially avoid price gouging at the pump. The two major vehicle manufacturers made an announcement today that they will be collaborating to develop a series of "affordable" electric vehicles priced below $30,000.

One could argue that this move seems to be part of a broader national plan to move Americans away from oil-dependent vehicles to a heavier reliance on alternative energy sources. For example, in February, the federal government pledged $5 billion to install electric car charging stations along interstate highways and other major roadways.

Some states like Washington have set a goal to phase out gas-powered vehicles entirely by 2030.

Do you think this move to produce more "affordable" electric cars will help reduce our dependence on foreign energy sources?

Would you buy one?

Let us know your opinion in the comments.

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