The US government wants people to buy EVs - for cheap and American-made. It seems to be an impossible task, and it even shapes the upcoming election: Presidential candidates have to find a way to sell the EV story with an eye on the environment and the job market.
#OIDW #DWVideos #EVRevolution #MadeInUSA #GreenJobs #ElectricVehicles #AffordableEVs #EcoFriendly #SustainableFuture #EVManufacturing #ClimateAction #AmericanInnovation #CleanEnergy #ElectrifyAmerica #EVMarket #JobCreation #EV2024
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#OIDW #DWVideos #EVRevolution #MadeInUSA #GreenJobs #ElectricVehicles #AffordableEVs #EcoFriendly #SustainableFuture #EVManufacturing #ClimateAction #AmericanInnovation #CleanEnergy #ElectrifyAmerica #EVMarket #JobCreation #EV2024
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NewsTranscript
00:00In 2022, California was the first to announce that all new cars, SUVs, and pickup trucks
00:05have to generate zero tailpipe emissions by 2035, effectively banning the sale of new
00:10gas-powered cars.
00:12Many here are receptive to EVs for various reasons.
00:15So it's not just environmentally beneficial, but also enjoyable.
00:20Gas is much more expensive in California than the rest of the U.S. as well, so maybe that's
00:23why people were quick to adopt it as well.
00:27It's comfortable.
00:28It's nice, especially with the autopilot and all of that.
00:31The Biden administration's target is for 56% of all new car sales in the U.S. to be electric
00:37by 2032, with another 15% for plug-in hybrids.
00:42But with less than 8% of national sales going to electric cars, it's clear that Americans
00:47will need some convincing until then.
00:50Tyson Jominy is the vice president of consumer intelligence firm J.D. Power, and he says
00:54geography and cost considerations play a major role in EV acceptance.
00:59Rarely the coastal markets are the big EV markets, and what we're missing is everything
01:03in the middle, which tends to be a very big part of the markets.
01:07Then additionally, EVs are still fairly expensive.
01:10Your average EV loan in the United States is $52,000, compared to about $40,000 for
01:16an ICE loan.
01:17So there's a big gap there.
01:19But a recent decision to effectively shut cheaper Chinese electric vehicles out of the
01:23U.S. market via tariffs laid bare the difficult balance the Biden administration has to strike,
01:29between wanting EV prices to go down to help mass adoption, but also needing to protect
01:34the U.S. automotive industry in a way that ends up keeping prices higher than they would
01:39be than if there were more supply.
01:41The last thing we want to do is turn the whole industry over and have a significant unemployment
01:47on the manufacturing side of the auto industry while all that production shifts over to China.
01:52But critics of the Biden administration's EV policies say that the tariffs point to
01:56a lack of strategic coherence.
01:58Lawrence Fossey is an industry observer known for his vocal takedowns of Tesla and its founder Elon Musk.
02:05These tariffs would seem to be a policy at war with itself because on the one hand, we
02:10want to encourage, not my view, but the government's view, we want to encourage EVs and renewables
02:16with solar panels, et cetera, and on the other hand, we're making them more expensive.
02:21It's kind of internally inconsistent.
02:24It's illogical, in fact, okay?
02:26It's crazy.
02:27The bottom line is that Washington wants as many EVs on the road as possible, as long
02:31as they're American EVs.
02:33But how soon America gets there, or whether it gets there at all, will depend very much
02:38on Americans themselves and how much they're along for the ride.