If you live in South America you can purchase a Chinese EV for about one-half the cost of a Tesla. They're great inexpensive transportation options, especially for urban/suburban dwellers who don't do lots of XC driving & have access to a charging port.
If the US allows China to sell in the US in return for building factories here (as was the case with Japan) you'll see the cost of EVs fall like a rock and adoption ramp up by the public.
Can our electric grid keep up? Of course not...until we have more widespread nuclear power adoption.
Trump Can Get EVs Back on Track
Ditch the mandates and subsidies. Let consumer choice drive the market.
By Jack Hollis, WSJ (Head Toyota of N America)
Nov. 24, 2024 2:42 pm ET
Federal and state governments have been trying to persuade Americans to buy battery-electric vehicles using mandates and taxpayer-financed incentives. These policies aren’t working, and the sale of EVs has stalled.
The incoming administration can course correct by replacing these mandates and subsidies with policies that give customers affordable options while helping reduce greenhouse gas emissions.
Over the past four years, Toyota hasn’t wavered in its goal of reducing greenhouse gas emissions as much and as quickly as possible. Our approach provides consumers with many choices: hybrids, plug-in hybrids, fuel-cell electric and battery-electric vehicles. We believe this is the best way to achieve meaningful emissions reductions while meeting customer needs. Data from the Environmental Protection Agency show that, between 2017-22, Toyota outpaced all other manufacturers in reducing average greenhouse gas emissions from its new vehicles.
Current EPA regulations are a de facto electric-vehicle mandate because they set emissions standards that are impossible to meet without a majority of vehicles being battery-electric. Yet even with costly subsidies from taxpayers, EV sales are still less than 10% of the market.
To be clear, we support the rollout of battery-electric vehicles. Toyota has invested nearly $14 billion to build a battery plant in North Carolina. But EPA mandates harm the auto industry’s ability to offer a variety of zero- or low-emissions vehicle options at different price points and with different characteristics. We want everyone, regardless of budget or specific needs, to be able to contribute to reducing emissions. But unrealistic regulations favor one carbon-reducing option over, and at the expense of, all others.
The California Air Resources Board has set a zero-emission vehicle mandate that goes even further than the EPA’s. Starting in 2026, 35% of all new vehicle sales must be zero-emission. That percentage will continue increasing, and by 2035 all new passenger cars, trucks and SUVs sold in California must be zero-emission. A dozen states plus the District of Columbia have adopted California’s rules.
None of these states are selling anywhere near the 35% level required next year, despite federal and state government subsidies and unprecedented incentives from automakers. This will distort the auto industry as companies funnel zero-emission vehicles to the states that have adopted California’s rules, severely limiting the choices that consumers in those states want or can afford.
Artificial mandates and subsidies aren’t working. We at Toyota believe that providing customers with affordable vehicles and a variety of options is the best path forward for reducing emissions. We believe the incoming administration should replace EV mandates and subsidies with policies that promote consumer choice while contributing to emissions reductions. A consumer-driven market will bring more stability and healthy competition to the auto industry, steady employment for workers and dealers, and more options for American families.
Mr. Hollis is chief operating officer of Toyota Motor North America.
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