President Biden is calling for half of all cars and trucks sold by within nine years to be zero-emission vehicles, and the major automakers joined him on the South Lawn Thursday to declare how much they love it.
So you’d think, we must be at like 20 or 30 percent now, right? No. According to the Wall Street Journal, we are currently a 3% electric vehicles, and most of those are Teslas. Since Tesla isn’t unionized, Elon Musk was not even invited to the White House.
So how will we “achieve” this? Massive subsidies, price hikes on gas vehicles, etc.
Basically, the substitution of government decisions for those of the market. And lots of extra costs that China and India no doubt won’t be making.
According to the Wall Street Journal:
What a spectacle. We’re referring to the political advertisement that auto makers staged with President Biden on Thursday endorsing the Administration’s stricter fuel-economy rules and climate agenda. Behold Big Business colluding with Big Government to grab subsidies and raise consumer prices.
The big problem for auto makers is that EVs remain impractical for many drivers who live outside cities. While EVs are less expensive to maintain than cars that run on gasoline, batteries need to be recharged every 200 to 300 miles, which can take at least 30 minutes even with today’s fastest chargers. Most people don’t want to wait that long when they’re on the road.
Auto makers also need a major battery technology breakthrough to reduce the manufacturing cost—about $10,000 to $12,000 more on average than gas-powered cars—increase their range and reduce their charge time.