US President Joe Biden to announce $900 million EV plan at Detroit Auto Show. Details here


President Joe Biden will look at the newest makes in auto-manufacturers electric vehicle portfolios at the Detroit Auto Show on Wednesday. President Biden will also announce a new infrastructure plan to make driving EVs more accessible.


Joe Biden is celebrating inflation


At the North American International Auto Show, Joe Biden will meet many manufacturers to tell them about the Inflation Reduction Act. This act was recently signed to protect the climate and healthy by offering tax incentives to people who buy EVs.

Even though Biden is credited for taking the step of promoting EVs for a better climate and supporting the EV portfolios of motor companies, the production of EVs in many companies started way before the Inflation Reduction Act was announced last month.

Most Americans are still unable to afford them primarily due to overpricing. Motor companies are considering launching affordable EVs. The cheapest option will be the 2024 Chevrolet Equinox, an electronic SUV that will roll off this Fall.


FAQs

What are the contributions of motor vehicle manufacturers to EV production?



Last year, Ford And GM announced their plan to launch the next generation of EV pickups and assembly plants.

Even before Congress cleared the law, Ford was already proving EV pickup trucks at the new Michigan factory.

Similarly, General Motors also assigned a Detroit factory to manufacture electric trucks and Hummers.

These motor companies have also announced three factories for EV batteries by collaborating with battery makers.

Even one plant of General Motors has already started manufacturing.

Stellantis, Honda, and Toyota have announced battery plants across the United States.

How will the recent acts help the people of the States?

At Wednesday’s auto show, Biden can announce the $900 million plan to construct EV chargers across 35 States in the 53,000 miles of the national highway.

A few days back, Biden had announced the Inflation Reduction Act, Bipartisan Infrastructure Law, CHIPS, and Science Act, where $85 million is invested in accelerating the EVs, batteries, and chargers’ production all over America.

Along with being suitable for the climate, all these acts will also help the economy by increasing employment.

Disclaimer Statement: This content is authored by an external agency. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.



Source link

Leave a Reply

Your email address will not be published.