This year is a presidential election year in the United States. There is widespread talk about the need to respond to Trump’s possible re-election. Along with this, there are concerns about possible changes to Biden’s actively pursued electric car strategy. Trump has publicly declared that he will scrap Biden’s electric vehicle power.
There has been unprecedented investment in domestic battery and electric vehicle production capabilities in the United States over the past few years. This is due to the policies of the Biden administration and the pressure to switch the automotive industry from CO2-emitting fossil fuels to electric powertrains. The White House announced that approximately $157 billion has been invested in battery and electric vehicle factories.
However, this is a presidential election year, and if Trump is elected instead of Biden, questions arise about what will happen to the projects that have been promoted so far. And Forbes predicted that it wouldn’t be that simple.
It’s not easy for many companies to stop building factories and other facilities in which they have invested. It’s not simple to cancel plans for building numerous facilities and creating tens of thousands of new jobs. Ultimately, Forbes pointed out that many governors and members of Congress are unlikely to stand by and let all activity and future tax revenue evaporate.
Recently, Donald Trump publicly declared he would scrap electric vehicles again, and American media outlets have published many articles about it.
During the 2020 presidential election, Trump argued that the transition to electric vehicles was impossible and even a scam. On March 11, 2024, in a new interview with CNBC, Trump reiterated his previous claim, saying, “I support electric vehicles, but there should be alternatives. Firstly, they have a short driving range, cost too much, and will all be produced in China.” He also claimed that the U.S. power grid couldn’t support electric vehicles. He asserted that transitioning to battery electric vehicles was out of the question.
In the past, Trump had touted his friendship with Elon Musk. Elon Musk also did not deny this, revealing his strong political leanings. While this is not unusual in American culture, they are criticized for having a common interest.
The global automotive industry’s trend is not going Trump’s way because he denies electric vehicles. Norway produces 98% of its electricity from renewable energy, and Germany recorded a faster-than-expected renewable energy share of 52% in 2023.
It seems clear that Trump’s misguided thinking will make the U.S. auto industry even more challenging.
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