Auto Industry Call for a “Comprehensive” EV Plan from Biden Administration

Auto Industry Call for a “Comprehensive” EV Plan from Biden Administration

The US auto industry has urged President Joe Biden to back a “comprehensive plan” for electric vehicles, according to Reuters. The industry also calls for hefty government tax credits and other financial incentives.

The requests come a day before Biden unveils a $3 trillion or more infrastructure proposal that could include significant support for manufacturing and EV charging.

Biden is also reviewing the Trump administration’s 2020 decision to roll back Obama-administration vehicle emission standards.

The auto industry says neither the current trajectory of adoption of EVs nor existing levels of federal support are sufficient to meet net-zero carbon transportation.

The industry has called for government grants to automakers and suppliers “to reequip, expand, and establish facilities” for EVs and components. 

The grants will also help to “accelerate the domestic manufacture of batteries, power electronics, and electric motors.” 

The request encourages developing the US-based supplies of critical minerals, battery and fuel cell manufacturing, and boosting hydrogen fuel-cell vehicles.

Some lawmakers and others are concerned about the shift to EVs on auto jobs.

There are currently about 1.5 million EVs out of 278 million registered passenger vehicles in the US today. 

Our Experts


Daniel Michelson

Daniel is a long term investor and position trader in the forex market.

Reva Green

Reva Green is the Senior Editor for website. An experienced media professional, Reva has close to a decade of editorial experience with a background.

Shandor Brenner

Shandor Brenner, an experienced writer at fxaudit.com, brings a wealth of knowledge with over 20 years in the investment field.

Leave a Reply

CAPTCHA ImageChange Image