Recently in the news, the Biden administration announced it wants to remake the U.S. auto industry using the toughest emission limits ever. That means more consumers are going to be buying electric vehicles. But the question is, are Americans ready for a fully electric future? Do we have the means and infrastructure to pull off this society-changing move?
According to the Washington Post, as of January of this year, fully electric cars made up 7% of new-vehicle registrations in the U.S. But does that directly equate to Americans shifting toward electrification?
President Biden aims to have 50 percent of all new vehicles sold, to be electric. And he wants that done by 2030. The White House has announced both public and private commitments to help support the transition to EVs under the EV acceleration challenge.
Which electric vehicles are most appealing to Americans? Ford may have cracked that code by offering fully electric versions of two of its most iconic vehicle names in history – The F-150 Lightning and Mustang Mach-E.
Ford believes introducing electrified versions of its legacy vehicles may help consumers adapt to going electric more comfortably with familiar brand names. It is coupled with financial incentives.
This month Ram debuted its entry into the electrified truck market, the Ram REV 1500. Ram says it’ll have an extended range of over 500 miles on a single charge.
Slated for 2024, Chevrolet’s first-ever Silverado EV will contend with both Ford and Ram’s offerings. While the Lightning is available now, both Ram and Chevrolet EV trucks are set to be available fall of this year.
The Biden administration also encourages EV automakers to boost EV production with various subsidies. EV automakers have received tax credits to help encourage consumers to go electric.
The President’s inflation reduction act expands and adds to tax credits for purchases of new and used EVs. The law also has some benefits to electrify heavy-duty vehicles like school buses. This will also support installing residential, commercial, and municipal EV charging infrastructure.
There’s also the discussion of charging. According to the administration, about $7.5 billion will go toward constructing EV charging stations nationwide.
In conclusion, reiterating one of the many proposals the EPA is pushing could lead to 67% of all new passenger car and light-duty truck sales being all-electric by 2030. Is all of this enough to reduce range anxiety and get more consumers into an EV?
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