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The podcast discusses the goal of making electric vehicles 50% of new car sales by 2030 with a $135 billion investment. It explores the impact on the auto industry, the financial losses faced by Ford and GM, and Tesla's success in the market. The challenges of EVs include high prices, limited range, and lack of charging infrastructure. It also talks about Tesla's position as the industry leader and the environmental impact of EVs.
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Quick takeaways
- The Biden administration aims to have 50% of new car sales be electric vehicles by 2030, but currently, EVs only account for 6% of new car sales.
- While investment firms like Vanguard and Blackrock support EVs, major automakers like Ford and General Motors are facing financial challenges with their EV ventures.
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The Biden administration's ambitious goals
The Biden administration aims to have at least 50% of all new car sales in the US be electric vehicles (EVs) by 2030. They also want two-thirds of new cars sold in the US to be EVs by 2032. This push comes from the administration's commitment to combating climate change and reducing carbon emissions. However, these goals face challenges as EVs currently only account for 6% of new car sales. Additionally, heavy trucks being electric is a long way off, considering they only make up about 2% of sales.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode