The EPA recently finalized its tailpipe rule, which aims for a fleetwide emissions standard target of roughly 57 miles per gallon. The proposal estimates that electric vehicles (EV) would account for 67% of all new light-duty vehicle sales and 46% of new medium-duty vehicle sales by 2032.
It is as if the Biden administration has failed to read between the lines or is completely tone-deaf. The majority of Americans are not exactly jumping on the EV bandwagon, and the last several months have been proof positive of that fact. Just look to the car industry.
Ford Motor Company, one of the top auto manufacturers, lost $32,000 per EV and closed out 2023 with close to $5 billion lost on their EV division. It announced in January that it was slashing its F-150 Lightning truck production in half on account of softened EV sales.
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Other companies, like General Motors, Mercedes-Benz, Volkswagen, Jaguar and Land Rover are also scaling back production levels. Even Tesla, the reigning king of EVs, is expecting growth to slow and is adjusting its manufacturing accordingly.
The Wall Street Journal recently reported that at least 18 EV and battery startups that went public in recent years were at risk of running out of cash by the end of the year. Several filed for bankruptcy in 2023.
Roughly 4,500 auto dealers signed on to a letter in November petitioning the Biden administration to "tap the breaks" on its aggressive EV push, on account of EVs stacking up on dealer lots. With no response from the administration, a second and more urgent letter was sent in January, asking them to "hit the brakes." People aren’t buying EVs.
Hertz reversed course with an announcement it will be selling off about one-third of its EVs in order to "meet customer demand." No one is renting them.
While sales of electric vehicles increased in 2023, the growth was slower than many industry experts had anticipated. EVs only comprised about eight percent of total new car sales. The lack of enthusiasm is likely due to a number of factors.
The steep price tag alone is enough to keep most car buyers away. The costs may have come down some, but they are still out of reach for the average American. In addition to sticker shock, insuring one costs more and they have been known to chew through tires much faster than their gas-powered counterparts.
Range and charging are still major issues. Consumers rightfully worry about long distances as well as adequate and fully functional charging stations. Will they be able to charge their car on lengthy road trips? And how long will it take?
Answer: The U.S. averages about 104 gas pumps per 1,000 road miles, compared to just 22 EV charging ports. Plus, the time required to charge your vehicle could take hours as opposed to just a few minutes to fill up a tank.
EVs also don’t fare well in cold climates, which sap the vehicle’s range up to 40%. Chicagoans learned that all too well a few months ago on a cold winter night that left many motorists stranded with dead batteries and failed charging stations. It’s no wonder states like North Dakota and Wyoming have fewer than 1,000 registered EVs.
A large portion of the populace lives without a garage or structure which can house a charging station, thus keeping an EV juiced and ready poses a challenge.
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National security becomes a major concern because EVs require large quantities of critical minerals which we don’t mine here but must rely upon China to supply. Even though we have vast supplies in the U.S, we are years — if not decades — away from extracting and processing them here at home on account of permitting restrictions, litigation and environmental lobbying.
The electric grid is nowhere near ready to handle an onslaught of EVs plugging in; charging an EV is electricity intensive, and adding a significant amount of them to an outdated and under-prepared power grid could be a major strain. Just a few years ago, California’s governor asked its residents not to charge their vehicles because the state was facing rolling blackouts.
There is a place for electric vehicles, but not at two-thirds of the market share, nor forced upon the general public through government fiat. The truth is the electric vehicle only appeals to a niche market and is only practical for a small percentage of motorists. The technology is nowhere near ready for mass production or adoption, and it is as dishonest as it is destructive to pretend otherwise.
The January letter from auto dealers stated, "It is uncontestable that the combination of fewer tax incentives, a woefully inadequate charging infrastructure, and insufficient consumer demand makes the proposed electric vehicle mandate completely unrealistic."
The push for EVs takes away consumer choice and freedom. The government should not be in the business of mandating which vehicles should be produced or purchased. This EPA rule is Draconian, dangerous, and frankly, anti-consumer.
