An Automotive Minute: Electric Vehicles in the Biden Adminstration
An Automotive Minute from IHS Markit with Devin Lindsay
Many assume Democratic President Elect Joe Biden will be much more electric vehicle friendly, and that he may finally usher in the wave of electric vehicles anticipated since his years as vice president. But will this likely be the case?
The administration desires to build 500,000 EV charging stations. This would certainly make charging availability much more visible to the public, but how many is too many for the number of electric vehicles expected to be on the road? Most EV owners charge at home, and while more chargers make everyone feel more assured, EV charging must become faster to fit into American time schedules.
We should certainly expect more ambitious fuel economy standards for 2027 and beyond after the current CAFE regulations end and a reinstatement of California's zero emission vehicles mandate waiver which will all but guarantee a home for the new EV models being rolled out by automakers.
But while there are certainly no guarantees in the world of politics, the EV industry is perhaps in its best scenario ever: more electric models choose from and tougher environmental and fuel efficiency policies to lower greenhouse gases.
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