Rising Electricity Costs for EVs: How AI’s Energy Demand Could Impact Tesla and EV Owners

By Douglas McIntyre  •  August 28, 2024

Electricity prices for EVs are expected to rise due to the massive energy demands of artificial intelligence (AI). Doug McIntyre highlights the challenge Tesla faces as AI’s consumption of electricity could rival the total electricity usage of entire countries like Japan. This growing demand from AI, Bitcoin mining, and other sectors may drive up electricity costs, potentially undermining one of the key advantages of EVs—lower operational costs compared to gasoline vehicles. As Tesla relies on AI, the company may face increased pressure to balance electricity availability and costs.

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