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Is $ 174 billion enough for Mr. Joe Biden to make the ‘electric car revolution’?

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With a budget of 174 billion USD has just been announced, President Joe Biden wants to use it to invest and encourage Americans to switch to electric cars.

It will not be easy for US President Joe Biden to “revolutionize the electric car” The electrification of the US transport industry is one of the commitments of President Joe Biden when running in November 2020. And a $ 2.3 trillion infrastructure plan, of which $ 174 billion is spent on electric cars and charging infrastructure, which the White House boss recently launched is considered the answer for the American people. But is that investment enough to change the shipping picture in the United States? Investment, stimulus, support With a newly announced $ 174 billion budget, President Joe Biden wants to invest and encourage Americans to switch to electric cars and trucks (EV), eliminate diesel or gasoline cars. . However, the New York Times quoted many experts as saying that although this is a large investment, it is not enough to change American perceptions about electric cars. Joe Biden’s team plans to subsidize electric car prices for individuals, businesses, and governments with tax exemptions, discounts and some other subsidies. On the other hand, US leaders set a target to build millions of charging stations by 2030. The White House owner also “opens a budget”, encourages manufacturers to participate in building electric vehicles and fuel cells at America. Bob Perciasepe, president of the US Center for Climate and Energy Solutions, said: “The United States is in a torrid time when most businesses and the state government look forward to a zero-emission future. carbon but admittedly, infrastructure is the biggest obstacle. The $ 174 billion investment alone will not be able to solve the climate problem or improve the US infrastructure, but it will be a powerful boost. The automakers have filled in their names on the list of greener trendy automakers like General Motors, Volkswagen or Ford Motor that are promising the future of EVs, but they insist they still need federal support. A representative group of manufacturers, suppliers and workers in the auto industry sent a letter to President Joe Biden saying: “The American transport revolution is not limited to one policy, it is dependent on a branch or rank in government or industry. It requires holistic strategy with a wide range of policies from legislators and regulators across economic, social, environmental, and cultural sectors. The group also calls on the government to subsidize, provide loans, and tax exemptions / reductions to stimulate electric vehicle production / research. Cognitive obstacles, technological breakthroughs are required Besides strong investment, the US government also has a big task to determine the success of the transition, which is to convince and change the perception of American people about the benefits of electric cars. According to statistics from Forbes Magazine in 2019, most Americans are not interested in electric cars. And the people’s awareness shift has not changed much despite many programs and strategies on environmental and climate protection that have been implemented during the past time. The demand for EV cars in the US has grown very fast, but in terms of overall premises is still low, accounting for only about 2% of the new car market and 1% of the total number of cars, sport utility vehicles, trucks … moving on the US road. Although the researchers point out that the full cost of owning and operating an EV vehicle will be cheaper after purchasing (fuel cost, lower maintenance frequency than vehicles using internal combustion engines) but perceptions of It is still difficult for people to change because the original electric car price is very high. The cost of buying an electric car is about $ 10,000 higher than the price of conventional trucks and cars in the same segment. The most expensive part of an electric vehicle is the battery. The average price of a battery system in a mid-range sedan is $ 15,000. Although the cost of batteries is on the decline, is expected to continue to drop deeply thanks to improvements in manufacturing and engineering, some scholars believe that, to really help electric cars lower prices to affordable prices, it takes a hit. Deep forays in technology. Most new car buyers in the US have to wait until the gas car breaks down to buy a new car. While, according to calculations from economic prediction firm IHS Markit, the average age of cars and pickups in the US has improved up to 12 years. Inadequacies about the charging station Another worrying problem hampering the U.S. transition to electric vehicles is charging. Currently in the US there are only more than 100,000 gas stations with additional charging equipment for EV vehicles. The Americans with garages will easily add chargers that allow overnight refueling, but this number is not much. Most people living in apartment buildings do not have enough dedicated chargers, or have to drive long distances to public charging stations to refuel their cars. “This is one of the top three reasons that customers often give when not choosing EV cars”, Mr. Sam Abuelsamid, an analyst at Guidehouse Insights magazine pointed out and emphasized, this is what the US administration need to solve. “We need to cover charging stations in areas where ordinary people do not have their own garages, have to park their cars outside like in narrow urban areas and big cities. If we solve that problem well, there will definitely be many people buying electric cars, ”said Sam Abuelsamid. The lesson of stimulating the demand for electric vehicles from China, the biggest rival to the US, shows that increasing the charging infrastructure is the decisive factor that helps Beijing rise to the top of the world in the proportion of electric vehicle users. However, according to experts, when all factors from supporting manufacturers, expanding fast charging systems and changing people’s perceptions converge, the transition to electric vehicles in the US still takes. a decade to come true.

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