What happened to EVs?
The sudden slowdown in electric car sales is a symptom of a
much uglier problem.
Electric vehicles were supposed to be inevitable. Two years
ago President Joe Biden climbed behind the wheel of a beefy white electric
Hummer to tout his plan to make half of all new cars sold electric by 2030. The
following year Congress passed the Inflation Reduction Act, which created a
bevy of incentives for drivers to buy electric and for automakers to invest in
EVs. That set off a flurry of new projects: EV plants, battery-manufacturing
facilities, and mining operations began popping up. By the end of 2022 the
situation looked promising: More and more Americans were going electric, and
soon everyone would be driving an EV, reducing emissions in the process.
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