The Daily Biden’s Electric Car Problem
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Nov 16, 2023 
Jim Tankersley, an economic policy correspondent for The New York Times, dives into the challenges surrounding President Biden's Inflation Reduction Act that aimed to boost electric vehicle production. He discusses the unexpectedly slow consumer adoption of EVs despite significant federal incentives. The conversation highlights the impact on automakers considering massive investments, and explores consumer barriers like affordability and range anxiety. Tankersley emphasizes the need for bipartisan support to ensure sustainable growth in the electric vehicle market.
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Two Goals, One Success
- The Inflation Reduction Act aims to boost American-made EVs and increase EV purchases.
- It has successfully spurred manufacturing but hasn't significantly boosted sales yet.
Incentivizing the Supply Chain
- The act incentivizes every step of EV production, from mining to assembly.
- This has led to a boom in investments across the EV supply chain.
Investment Examples
- Hyundai is building its first US EV plant in Georgia.
- Scout, a revived automaker, will assemble EVs in South Carolina.