Posted on 11/09/2023 5:40:34 AM PST by Oldeconomybuyer
President Biden’s signature climate law has stimulated a surge of investment in electric vehicle production across the country, including tens of billions of dollars on battery plants across the South and new assembly lines near the Great Lakes. Based on early evidence, it is succeeding at a goal that economists have long considered difficult and costly: using the power of government to rapidly grow a new industry.
That growth could prove crucial for the other side of the electric vehicle equation: enticing more consumers to buy them. That’s because Mr. Biden’s law effectively hitches the future affordability of electric vehicles to automakers’ willingness to source and build them in the United States.
For now, the climate law has not drastically affected trends in electric vehicle sales.
“I think it’s going to be a long time before you see your local waitress come in and buy an E.V. — they’re just too expensive,” said Rhett Ricart, the chief executive and owner of the Ricart Automotive Group in Columbus, Ohio, and a former president of the National Automobile Dealers Association. “If we’re going to get people to buy these electric vehicles in volume,” he said, “we will need more financial assistance from the manufacturers or the government.”
Auto dealers and administration officials are hopeful that a feature of the law that will take effect on Jan. 1 will further increase sales. It will allow qualified buyers to immediately pass their electric vehicle credit on to a dealer, essentially using it as a down payment, instead of waiting until they file a tax return to receive money back.
(Excerpt) Read more at nytimes.com ...
DemocRATZ and the NYT love laws, but totally and utterly failed Science for Poets 101, let alone any real science subjects.
Government funded “investment” is no investment at all…
You would think that reading about the failed Five Year Plans of Soviet planners would have given the government a clue. Oh, wait true-believing communists would not read the bad parts. That is, if they can read.
Even those that have ... I am looking at you AOC ... don’t grok Economics.
I remember a liberal being interviewed where she stated that people weren’t buying small, fuel efficient cars because manufacturers weren’t building small, fuel efficient cars and manufacturers needed to be forced to make said cars. The interviewer rattled off the names of about ten tiny fuel-efficient cars that were available and not selling. I don’t recall her answer. But her mindset was that manufacturers are evil and must be forced to do what liberals think is the correct thing. I suspect she was one of those people who believe whatever they believe, and facts can be damned. You often hear this as some version of, “well, this is MY truth.”
You know that every communist thinks they can do it better than the last communist did…
Yup. The US today is so far away from a “capitalist” or “market-based” system. We are pushing the Central Planning hard. Because, you know, it’s worked so well in the past.
> You would think that reading about the failed Five Year Plans of Soviet planners would have given the government a clue. <
The #1 rule of liberals everywhere: “This time it will be different.”
Just why, they can’t say. But this time it will be different.
they will fix the problem by regulating gas cars out of existence ie cafe
battery cars will still be too expensive
so many will be on the bus
the real goal
A used ICE vehicle is a less risky purchase than a used EV.
This is because of the batteries.
Perhaps batteries should be leased items with the lease price being less than the cost of gasoline.
That would mean leasing of EV batteries would have to be mileage based.
“If we’re going to get people to buy these electric vehicles in volume,” he said, “we will need more financial assistance from the manufacturers or the government.”
BS; we don’t need that crap. ICE vehicles are far superior.
“if government gives us the money to buy them.”
If you are posting on freerepublic, you probably are not the right “us”.
“Supercharged Electric Car Manufacturing, but Not Sales”
A supercharger called subsidies was put on sales, but it ain’t working.
The new UI batteries (Unobtainium Ion) will solve the problem.
The tradespeople like big pickup trucks to pull their warehouses on wheels.
Making EVs affordable takes away just one of the negatives about them. Meanwhile, all of the other negatives remain, and there are plenty of those.
It’s like trying to make crap tasty to eat. No one is going to fall for it.
Biden has been wrong on just about everything. Why would anyone think he was right on “green energy”, EVs, etc.?
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