- The push for full electric vehicle (EV) production is causing significant job losses and economic challenges, particularly for the middle class.
- Despite efforts to promote EVs, consumers are rejecting them due to concerns about mileage, environmental impact, and high costs.
- Ford is facing financial difficulties due to unsold electric vehicles and a shift in focus from internal combustion engines to EVs.
- The Biden administration is pushing for EV adoption to gain environmentalist support before elections, disregarding the immediate economic and job impacts.
The full electric vehicle strategy is killing millions of jobs and pushing the middle class to lower income levels. Production of electric vehicles is planned to be much more autonomous compared to internal combustion engine vehicles. Car makers do not want to pay millions of dollars in packages to employees. Instead of a 100% electric vehicle transformation, car makers push the administration to continue internal combustion vehicles in parallel.
Joe Biden just got a brutal warning. The car makers have warned him to stop pushing electric vehicles so densely through regulations and penalties. Otherwise, the EV market will crash. People are starting to hate electric vehicles.
Car makers think electric vehicles are nothing but a giant money-making scam. Thousands of jobs are lost, more than $5 billion in losses, and despite Biden’s forced electrification push, customers are simply rejecting electric vehicles.
Electric vehicles are supposed to alleviate mileage anxiety, but people are questioning their impact on the environment. Thanks for joining today’s video. If you have not yet, please subscribe and like the video. Your support is very important to grow this channel. Thanks in advance.
Electric vehicles are killing the middle class. Electric vehicle manufacturers are raising warnings to authorities and each other, questioning their own electric vehicle strategy and considering a return to combustion cars. They don’t want to be ripping off the middle class anymore.
With thousands of EVs lying unsold in dealer lots, the EV hype is finally over, and prices will come crashing down. Since the electrification wind started in the automotive industry in the United States, the Biden Administration has been forcing all car makers to produce more and more electric vehicles beyond what other countries did.
If the United States brands are not getting the requested level of EVs, the administration has threatened car makers with millions of dollars in penalties, considering their emission levels.
The administration is also getting support from environmentalist agencies and some groups to push emission levels as low as possible. However, no one is taking into consideration that pure electric vehicle production may cost thousands of people their jobs.
By the way, electric vehicles are not innocent for the environment since they have battery recycling issues, which I will explain in another video as it requires more detail.
Car makers like Toyota, General Motors, Ford, and Volkswagen are freaking out because Biden’s team has rolled out these new rules that are all about boosting electric vehicles. However, they do not care how people can afford electric vehicles since electric vehicles are overpriced.
The Biden Administration wants to get environmentalist support before the election and does not care about car makers’ current situations and how job losses will impact people’s lives in the long term. As usual, politicians just want to save the day instead of protecting the future.
The Biden Administration is pushing government employees to buy electric vehicles. One of the plans is to convert military light vehicles into electric vehicles. The Biden Administration is pushing car makers to reach 80% full electric vehicle production by 2035, which is an extremely bold target since car makers are currently only at 3%.
The practicality of charging electric vehicles, high prices, and insufficient infrastructure are not enough to meet people’s requirements. On the other hand, car makers fully depend on traditional internal combustion engines’ performance to keep their companies running, pay employees’ salaries, invest in research and development for future products, and satisfy shareholders by sharing dividends.
How are car makers reacting to the Biden Administration’s electric vehicle strategy? Let’s start with Ford, led by Jim Farley, who began establishing electric vehicle manufacturing lines worldwide. They assigned their engineers to focus on electric vehicles instead of improving their current lineup, which is massively internal combustion engines.
They are flowing all their money into electric vehicle pricing strategy, marketing, and intelligence. However, in the United States, dealers are struggling to clear the huge stock of electric vehicles lying in yards for more than six months. Ford is facing a tremendous financial hit by selling those vehicles at a negative margin.
Another big player is General Motors, led by Mary Barra. They entered the electric vehicle industry a long time ago with the Chevy Bolt EV, a bestselling vehicle with a higher price compared to other competitors. They refused to lower the price even though they were getting a significant margin on this compact car. With this strategy, they started pricing electric pickups, thinking people would buy them because they are trendy.
However, this led to a change in customers’ perceptions and impacted the company’s future sales. One of the disappointing cars is the Cadillac Lyriq, which sold only 1,400 units, and the legendary Hummer electric vehicle pickup, which barely sold 50 units, an almost 85% drop compared to last year.
Traditional automakers are struggling to sell electric vehicles at the expected level. Companies are raising their voices on all platforms. People are not ready to buy electric vehicles. Countries are not ready with regulations. Roads are not ready enough to use some intelligent mobility.
Charging stations are not ready to meet all demands. Infrastructure is not mature enough to support people’s requirements. Even with additional government incentives, the world is not ready yet.
When we say the world is not ready for electric vehicles, please do not consider only some states of the United States like California, Norway, Germany, or other developed countries where electric vehicle infrastructure can somehow meet people’s expectations. Consider emerging countries, third-world countries, or even India, which has tremendous yearly car sales, or the Middle East like Saudi Arabia, where car makers cannot sell electric vehicles because of heat issues, etc.
So, what do you think? Please share your comments with us. Thank you for reading today’s post. check out our other articles for more information.
