This paper proposes a time of use (TOU) pricing strategy for electric vehicles considering the interests of users and power companies. The demand response model of electric vehicles is established based on the charging characteristics of users. Furthermore, the Pareto solution is obtained by NSGA-II algorithm with the aim to maximize economic benefit of both users and power companies and to minimize fluctuation of power grid. With the method of fuzzy membership, the compromise solution is found. Finally, the influence of government subsidy policy on user response participation is studied, and the minimum subsidy value is calculated quantitatively. The results show that the TOU price system of electricity can stimulate the users to participate in the response of electricity price. Meanwhile, the government appropriately increase subsidies can encourage the users to participate in the price response. The proposed model of TOU price has certain guiding significance for power companies.