(TheConservativeTimes.org) – President Joe Biden and his administration are quick to brag about the governments’ supposed success in pushing for the use and manufacture of more electric vehicles, but the competitive EV industry may not be as rosy as what the government wants people to think.
In a press release issued earlier in the year, the White House said that President Biden’s “leadership” has put America on track to meet the goal of “net-zero emissions by 2050” while at the same time “creating good-paying union manufacturing and installation jobs.” The release also touted the continued strengthening of an EV charging network throughout the U.S., with an end goal of putting up “1.2 million public chargers by 2030.”
More recently, a news release published by the Department of Energy recently sought to provide more clarity (“correct the record”) on data on sales of electric vehicles as well debunk misinformation on the number of EVs being sold in America, EV charging infrastructure in America, and consumer interest and EV pricing. However, third-party experts have pointed out that in fact, the actual demand for EVs don’t match the Biden administration’s projections for it. “EV adoption is dramatically slower than the Biden administration’s rosy outlook,” David Blackmon told news outlet Daily Caller.
Lee Chang-sil, chief financial officer of South Korean battery making company LG energy Solution, agrees, telling Reuters that the demand for EVs next year “could be lower than expectations.” EV demand is tempered by factors such as rising global uncertainty – likely due to the continued Russian invasion of Ukraine as well as the Israel offensive in Gaza – as well as higher interest rates imposed by the Federal Reserve in order to curb inflation.
In addition, Honda and General Motors have ended a $5 billion plan that would have seen the two automakers collaborate to create more affordable EVs. GM CEO Mary Barra said that the American auto company would instead pool its resources into enhancing the “profitability of our EV portfolio” as well as make adjustments in accordance with “slowing near-term growth.”
In terms of charging infrastructure, data from the U.S. Department of Energy itself shows that the largest concentration of EV charging stations are located in coastal regions with high populations, such as the Los Angeles and San Francisco areas, and New York and New Jersey on the East Coast. There are significantly less EV charging stations in more rural areas of the U.S., which suggest that a cross-country road trip on an EV might not be a good idea just yet.
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