Wether an EV makes sense economically today entirely depends on politics.
Imagine two water reservoirs, Lakes High and Low. Gravity will cause water to flow downwards, but gravity has zero imagination, so the water from High will only reach Low if the path of least resistance leads towards Low every increment of the way. If you want the water from High to end up in Low because you have a hydroelectric generating station downstream of Low, then it might be a very good idea to help gravity along by drilling a tunnel.
Fossil fuels are bad in almost every way and we need to stop using them as soon as possible. But if the transition to EVs is to happen before it is forced upon us, someone must be willing to spend resources to make EVs competitive before Peak Oil does.
Of course EVs will not be cost competitive by themselves initially. As long as there is oil available and we are unwilling to spend the necessary resources to tunnel through that hill, the cheap and reliable ICE is very hard to beat.
Across Europe, fuel is heavily taxed. 95 octane gasoline here in Norway today costs USD 7.6 per U.S. gallon, of which about two thirds is tax. It's no cheaper in Sweden or Denmark, a little bit less expensive in the UK at USD 6.5 per U.S. gallon. This policy has resulted in a huge improvement in average fuel efficiency compared to the US, and is a strong incentive for electric vehicles. The cost is that transportation is more expensive in Europe than in the US, harming our competitiveness. I don't know wether the net economical result is positive or negative for us in the short term.
In Norway, many roads are financed through road toll, from which ZEVs are exempt. ZEVs are also exempt from congestion charges, VAT, the astronomically high vehicle registration tax, are allowed to drive in the bus lanes, have access to free parking, etc. Other European countries have started to copy Norway. Sweden and Denmark are likely to drop the registration tax and possibly VAT too. EVs are exempt from the London congestion charge.
European politicians want EVs to succeed and are helping to get the ball rolling. The cost of special ZEV incentives is next to nothing, because there are few ZEVs so far. The incentives will obviously be axed whenever a certain percentage of the vehicles are ZEVs, but by then, economies of scale will hopefully have brought the price of EVs down.
Our 2001 Think City, bought used for about USD 16k, has saved us about 75% of its price in just three years, and then I'm not counting the time saved by driving in the bus lane. Its top speed is 53 mph (the highest speed limit in Oslo is 47 mph), its range is only 50 miles, and it's a two seater. Even so, it has been both very useful and economical.
In my eyes, the low fuel and ICEV taxes in the US give the ICEV an extremely unfair advantage. Fuel and internal combustion engines pollute and consume resources better spent elsewhere or not at all. Therefore they should be heavily taxed to make people think twice before using them. If that for some reason is impossible, then alternatives should be equally heavily subsidized and incentivized.