You really ought to link to your source, or at least name them.This is reality that I follow (the marketplace):-
Americans aren’t lining up to buy EVs — despite the new $7,500 Inflation Reduction Act incentivizing tax credit. Here are the 2 big reasons why
Story by Vishesh Raisinghani • 10h ago
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MARKETS TODAY
US President Joe Biden drives the new electric Ford F-150 Lightning© Salma Bashir Motiwala/Shutterstock
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If only electric vehicles would shoot sparks — in the marketplace, that is.
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Despite the billions of dollars invested by private corporations, and government subsidies, Americans are still indifferent as a whole over electric vehicles.
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Just two in every 10 Americans say they're “very likely” to buy an EV as their next car, according to a survey by the University of Chicago’s Energy Policy Institute and the AP-NORC Center for Public Affairs Research.
The U.S. is an outlier on the issue
Two-thirds of Europeans said their next car would likely be an EV, a EIB climate survey shows. Meanwhile, EVs already account for 86% of new car sales in Norway and 72% in Iceland, according to statistics cited by Canary Media.
Even Chinese consumers are more enthusiastic about this transition than their American counterparts, those numbers show 16% of all cars sold in China in 2021 were electric, whereas the figure in the U.S. is just 5%, ranking it number 19 out of the 20 countries charted.
The Biden Administration can’t be happy with those findings.
The transition to clean energy is a key part of the government’s agenda and subsidies in the Inflation Reduction Act were supposed to make EVs more appealing. The legislation earmarked up to $7,500 in tax credits for each American motorist who ditched their gas guzzler. The administration’s strict new pollution limits are intended to push EV sales to 67% of the market by 2032.
Unfortunately, the carrot-and-stick approach hasn’t worked. To drive EV adoption higher, the government and auto industry need to resolve two key hurdles for ordinary consumers: cost and infrastructure.
Cost and charger conundrum
Roughly 80% of Americans name “costs” and the “availability of charging stations” as their EV biggest concerns. There are only 53,000 electric charging stations in the U.S. compared to 145,000 gas stations, according to the World Economic Forum. Charging an EV is substantially more time consuming, which explains why charging stations need to exceed gas stations for comparable availability.
Reliability ranks as another key issue. Drivers seldom have to worry about their local gas station being out of service – but one-fourth of charging stations tested by climate advocacy group Cool the Earth didn’t function.
Resolving these issues could take years, which means the Biden Administration’s target of 67% EV adoption is likely unrealistic. It also means gas-powered vehicles and fossil fuels are here to stay for the foreseeable future. The petroleum sector is under appreciated by many investors, which could create bargain opportunities.
Americans aren’t lining up to buy EVs — despite the new $7,500 Inflation Reduction Act incentivizing tax credit. Here are the 2 big reasons why (msn.com)
Why is this article trash? Well, here we go:
1. While the US is a laggard, key states within the US are mandating alternative energy vehicles by 2035, including California where EV adoption is on par with Europe (16%).
2. There is 1 charging station for 3 gas stations today, but they are unevenly distributed to meet areas of demand.
https://www.weforum.org/agenda/2022/11/ev-charging-stations-across-the-us-mapped/
Of course, this doesn't consider home charging which can't be done with ICE vehicles, yet represents a key advantage in suburban America.
3. The article has clearly been paid for by the oil industrial complex (oil companies, gas stations, auto and parts manufacturers and repair shops) to appeal to the states that depend on oil for their economy and tax breaks. But with half the states shutting down gas stations and repair shops, it will be interesting to see how pump prices, or prices of ICE vehicles (who depend entirely on suppliers) will be affected when half the vehicle park has switched to EV.
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