Electric vehicles
Andreoni, Manuela. (2024 Sept 5). The Electric Vehicle Future Is Coming. Just a Little More Slowly. The New York Times.
The article discusses recent setbacks in the push towards electric vehicles in the US with several car manufacturers pulling back on or delaying their decarbonization goals. One of the reasons for these delays is the decline in sales due to price disparities. However, it is estimated that electric vehicles with 400-mile range could reach price parity with their gas-powered counterparts in the next decade at which point EVs would approach a tipping point. Despite delays, sales and investments in factories producing EVs are growing with no signs of waning, much of these investments coinciding with the Biden administration’s climate and infrastructure laws.
Are the vehicles of the future electric?
Electric vehicles are the future of transportation with many car manufacturers investing in EV production and governments promoting EV adoption. Many major automakers have publicly committed to all-electric fleets by a certain year but some have scaled back on such goals due to decline in sales. Much of the hesitation to switch to EVs is the high cost, but development of more efficient manufacturing and drops in battery costs are helping EVs approach price parity with gas vehicles. To promote the transition, the electric ultility company, Green Mountain Power, offers incentives for their customers to purchase or lease EVs and businesses to install EV chargers. Additionally, the federal government offers a tax credit for purchasing a new or used EV.