The Rapid Drop in Interest in EVs

Other News, Politics
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Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Diana Furchtgott-Roth.

On a recent Price of Business, Price and Furchtgott-Roth discuss the serious changes in consumer attitudes about Electric Vehicles.
They discussed her recent article in Forbes Magazine, where she writes:”There haven’t been many worse weeks for electric vehicles.“Apple stated that it will no longer try to build an EV, and will instead focus on AI technology. Ford announced a pause in its delivery of the new F-150 Lightning pickup trucks, citing quality control problems. Mercedes no longer plans to go all electric by 2030, and said it will only make the EVs that drivers want to buy.“These announcements follow Ford’s January message in its investor earnings call that it had lost over $65,000 per EV sold in 2023; its October reduction in EV investment by $12 billion; and the delay in its $3.5 billion Michigan battery plant, a partnership with China’s Contemporary Amperex Technology Co. Limited.“General Motors, meanwhile, has abandoned its goal of selling 400,000 EVs by June 2024.“Yet reality is more easily ignored at the White House. President Joe Biden has proposed rules that would require 60% of new cars sold to…

According to a statement, “Diana Furchtgott-Roth is director of the Center for Energy, Climate, and Environment and the Herbert and Joyce Morgan Fellow in Energy and Environmental Policy at The Heritage Foundation. She is an Oxford-educated economist, a frequent guest on TV and radio shows, and a columnist for Forbes.

“Diana worked in senior roles in the White House under Presidents Reagan, George H.W. Bush, and George W. Bush. She has served as Deputy Assistant Secretary for Research and Technology at the U.S. Department of Transportation; Acting Assistant Secretary for Economic Policy at the U.S. Department of Treasury; Chief Economist at the U.S. Department of Labor; Chief of Staff of the President’s Council of Economic Advisers; and Deputy Executive Secretary of the White House Domestic Policy Council.

“Diana is the author or coauthor of six books and hundreds of articles on economic policy, most recently United States Income, Wealth, Consumption, and Inequality (Oxford University Press, 2021). She received degrees in economics from Swarthmore College and Oxford University.”


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