Biden Hits the Brakes on EV Transition
Story by Evelyn Thomas • 8h
The Biden administration is considering scaling back requirements for electric vehicle production in the U.S. due to challenges in supply chains, consumer demand, and infrastructure.
The adjustment comes amidst concerns about the feasibility of the initial ambitious goals and the need to balance environmental objectives with economic realities, particularly in an election year where Biden seeks union support.
“Give the market and supply chains a chance to catch up, maintain a customer’s ability to choose, let more public charging come online, let the industrial credits and Inflation Reduction Act do their thing and impact the industrial shift,” Alliance for Automotive Innovation CEO John Bozzella said.
https://www.msn.com/en-us/money/news/biden-hits-the-brakes-on-ev-transition/ar-AA1nPAm5?ocid=msedgdhp&pc=HCTS&cvid=68451265f74446a79a392cd775a9559b&ei=92
