Former President Donald Trump has pledged to dismantle President Biden's electric vehicle policies if re-elected, threatening tariffs and policy reversals.
Coral Davenport and Jack Ewing report for The New York Times.
In short:
- Trump has criticized electric vehicles and plans to impose tariffs and repeal Biden's E.V. incentives.
- Analysts believe the E.V. market may continue growing despite potential policy rollbacks.
- Automakers have invested heavily in E.V. production, which may temper the impact of policy changes.
Key quote:
“Our time frame as a company, our planning time frame, is a lot longer than election cycles. When we’re whipsawed back and forth by politicians that becomes really difficult for us.”
— William Clay Ford Jr., executive chair of Ford Motor
Why this matters:
Potential policy reversals raise questions about the future of the U.S. automotive industry, which has seen a substantial shift toward electrification in recent years. Major car manufacturers have invested billions in EV technology, aligning their strategies with Biden's vision for a greener economy. Rolling back these policies could not only disrupt these plans but also slow progress towards reducing greenhouse gas emissions, a critical component in addressing global warming.
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