Economists, Elements, and Electric Vehicles
Heritage
23-05-19 02:49
The economic issues surrounding the use of electric vehicles (EVs) in the US, including their cost, convenience, and environmental impact, are outlined in a recent episode of the Heritage Foundation's Heritage Explains podcast. The Biden administration's new regulations requiring EVs to represent at least 54% of all new vehicles sold in 2030 will have an adverse economic impact on the country, the podcast's guest speaker warned. Furthermore, the reliance on China for EV production will make it economically stronger while weakening the US economy. Trillions of dollars would, therefore, be wasted on EV production to benefit China, which makes solar panels, wind turbines, and electric batteries.