In response to dramatically slowing sales, Ford announced last fall that it was delaying $12 billion in EV investments.
BYD, the Chinese EV maker that's heavily subsidized by Beijing, has seen a sharp fall in sales.
For years EV sales have been propped up like a corpse by public policy.
Then there are $19,000 in indirect subsidies created by the federal Corporate Average Fuel Economy standards - "Which in recent years have been made increasingly stringent in order to make more expensive and to drive EV adoption," says the paper - and more than $3,000 due to the Environmental Protection Agency's greenhouse-gas emissions standard.
On a level playing field, with no subsidies and no incentives for either EVs or internal-combustion automobiles, EVs would be nothing more than novelty items, toys actually, owned only by a wealthy few.
As Steve La Fleur and Todd Wynn of the Cascade Policy Institute have noted, the free market will reject them until they become "Technologically and financially viable." That was 15 years ago, and EVs today are still inferior to the cars and trucks that burn fossil fuel.
It's not the auto industry, which wanted to build EVs when it thought it could rake in profits with help from policymakers, "And it's certainly not the federal government." "You look at how much money they're losing right now," says Jason Isaac, a co-author of the Texas Public Policy Foundation study, of EVs "And they can't compete." Maybe one day that changes.
https://issuesinsights.com/2024/04/19/could-evs-compete-in-a-true-free-market/
No comments:
Post a Comment