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Wednesday, July 17, 2024

President Biden Economic Plan : U.S.A need to invest in electric vehicles

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The U.S.A need to invest in electric vehicles in 2022-23

In his speech, Biden said we need to invest in electric vehicles, and approved the first $900 million in US funding to build electric vehicle charging stations in 35 states as part of the $1 trillion infrastructure bill passed last November.

President Biden Economic Plan : U.S.A need to invest in electric vehicles
President Biden Economic Plan: U.S.A need to invest in electric vehicles

Detroit’s Big Three automakers are showcasing a range of new electric vehicles at the auto show. US Congress and Biden, self-proclaimed “auto enthusiasts,” are offering tens of billions of dollars in loans, manufacturing tax credits, sales tax credits, and subsidies to accelerate the transition from internal combustion engine vehicles to cleaner electric vehicles. I promised.

President Biden Economic Plan : U.S.A need to invest in electric vehicles
President Biden Economic Plan: U.S.A need to invest in electric vehicles

Still, petrol cars like the Biden-ridden V-8 Chevrolet Corvette Z06 are a common sight at the show.
President Biden announced a new plan to increase investment in electric vehicles at the North American International Auto Show in Detroit.
Biden is a huge proponent of electric vehicles, signing legislation to incentivize consumers to buy them and companies to build them.

The bipartisan Infrastructure Act provided $7.5 billion for a nationwide electric vehicle charging network. Meanwhile, the Inflation Reduction Act and his CHIPS and Science Act contained provisions to promote industrial development in the United States.

“These will all be part of a network of 500,000 charging stations installed by IBEW across the country,” Biden said, referring to the International Union of Electric Workers.

Biden said his administration has poured $135 billion into developing and manufacturing electric vehicles.

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