Electric Blues

Americans still don't want EV's:

Fast Company reports the automotive industry has undergone a significant transformation with the push towards electric vehicles in recent years. However, the road to widespread EV adoption is proving to be bumpy, with several obstacles threatening to stall progress. One of the primary concerns for potential EV buyers is the cost. While a recent University of Michigan study suggests that there is rough price parity between EVs and gas-powered cars on a macro level, with EVs being more economical in some areas and gas cars in others, the upfront cost of electric vehicles remains a significant barrier for many consumers. This situation is likely to worsen as the Biden administration has dramatically increased the tax rate on imported EVs from 27.5 percent to 102.5 percent this year, a move aimed at curbing the influx of cheaper Chinese-made vehicles into the U.S. market. Infrastructure challenges also continue to plague the EV industry. According to recent research by Harvard Business School, one in five charging points across the United States are non-functional. This lack of reliable charging infrastructure contributes to “range anxiety” among potential EV adopters, who worry about being stranded with a depleted battery. Loren McDonald of industry analysts EVAdoption projects that the U.S. will need approximately 2.8 million charging stations by 2030 to meet forecast demand, highlighting the enormous scale of infrastructure development required. Despite these lofty goals, the Biden administration has reportedly failed to produce even a single charging station with $7.5 billion allocated by Congress.

No charge, no ride...