Biden’s EV Pitch Gives Auto Industry a Vital Boost Towards All-Electric Goal
President Biden launches a $ 174 billion electric vehicle investment on Tuesday during a visit to a Ford EV plant in Michigan. The administration aims to encourage sales of electric vehicles through consumer discounts, while creating new battery production facilities to help U.S. electric vehicle manufacturing compete on the world stage.
Arthur Wheaton, an auto industry expert at Cornell University’s School of Industrial and Labor Relations, says automakers alone cannot achieve all-electric fleets over the next two decades without federal investment.
“President Biden’s $ 174 billion investment in electric vehicles is critical to achieving the goal of a fully electric fleet over the next two decades. Electric vehicles require easier, faster, and more available charging systems for widespread acceptance.
“Currently, South Korean companies are leading the way in battery cells. US investment in battery cell technology and charging infrastructure will cost more than a few automakers can do on their own. While the goal is to make the 15-20 million new vehicle sales electric, we are unfortunately not prepared for the required infrastructure.
“President Biden’s trip to Michigan shows his interest in keeping these jobs and investments in American businesses and workers.”
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