Technology - 06/July/2020

Trump will delay but not destroy an electric car future for America

The United States, the home of the car, has yet to make the kind of market impact with electric vehicles (EVs) as it did with the internal combustion engine

The US has the most to gain in reducing transport emissions, but a series of federal policy rollbacks have put a dent in electric vehicle uptake. Even so, in the car market contraction induced by the coronavirus pandemic, sales of battery powered vehicles have proportionally suffered far less than sales of internal combustion engine competitors

LONG ROAD
EVs still only make up a small percentage of the US market as cultural scepticism, policy barriers and a broad preference for SUVs and pick-up trucks hold back growth

PLAYING CATCH-UP
The US market is expected to be proportionally larger than China by 2040 – though not as large as Europe – with EVs having reached a price parity with traditional internal combustion engine models 

KEY QUOTE
“We are betting on [the] capitalistic powerhouse that is the US market to push EV adoption at a much quicker rate in the 2030s”

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