Biden’s Target of Electric Power in Half of All U.S. Vehicle Sales by 2030 is a Bonanza for China

News Analysis When President Joe Biden announced in the White House August 5 that he wants half of all cars and trucks sold in the United States to be Electric Vehicles (EV) by 2030, the loudest applause may well have been in Beijing. Biden told an assembly of labor and political leaders as well as top executives from General Motors, Ford and Stellantis N.V. — which owns Chrysler, Dodge and Ram — that he signed “an executive order setting out a target of 50 percent of all passenger vehicles sold by 2030 will be electric and set into motion an all-out effort.” The order also directs creation of a national infrastructure of 500,000 charging stations to service the projected boom in electricity demand for EVs and expanded federal tax credits as purchase incentives for consumers. Biden also wants huge increases in federal spending on research to develop new battery designs …Read More

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