Comment by margalabargala
6 days ago
> IDK why there is pullback from EVs tho.
Trump cancelled a tax rebate that instantly made every EV 30% more expensive in the US.
6 days ago
> IDK why there is pullback from EVs tho.
Trump cancelled a tax rebate that instantly made every EV 30% more expensive in the US.
Plus the higher interest rates. As soon as auto loan rates popped, demand started to crater.
But why did he done it? Rest of the world did the same - in NZ incentives got pulled and we are even taxed additionally per km now - same as 3 ton diesels, Europe pulled incentives and lowered emission guidelines...
All while interest rates are high and large upfront investments are harder for people.
Trump administration also cancelled funds for charging network buildouts, has fought solar and wind energy construction, put in high and erratic tariffs on key technologies related to EV construction. There is also a concerted effort by this administration to push the narrative that EVs are a failed folly and there are well funded astroturf campaigns pushing the same message. Americans are told daily that EVs are unreliable, the batteries die quickly, and you can never find a charger. Meanwhile car makers are cancelling plans to bring out EVs. It makes for a harsh climate for EVs in the US. EVs are still selling but its an uphill climb and the numbers show it.
The flip side is the economic reality of capitalism bieng built on growth, which is absolutly impossible for cars burning fuel. Electrics are cheaper to buy and maintain outside of the western markets, where the bulk of the worlds population lives, and much of the west, is going electric, realy realy quicky. The current fuel crunch is almost certainly causing the significant surplus of chinese electrics to bieng snapped up all over south east aisia ,africa, and south america.Just weeks ago there were sneering articles about overproduction, and unsold electric cars piling up in China, which now looks like precient planning.