U.S. President Joe Biden announced that 50% of all vehicles sold in the US need to be electric by 2030. Electric vehicles are rapidly gaining popularity but mandates like this should help accelerate the cause.
Most consumers are aware of climate risks with fossil fuels and would be interested in an EV. However, buying a new vehicle is a big purchase and many are unlikely to sell their existing car to just jump into an electric powered sedan.
Getting the government to back electric vehicles and demanding manufacturers to sell them will make sure that car manufacturers aren't sitting idle waiting for some magical fad to pass. It feels like some automakers are still sitting on their fossil-powered vehicles in the hopes that they can convince consumers that EVs aren't the future. They'll save billions by not building new factories and production lines. This executive order will hopefully make it clear to manufacturers that electric vehicles need to be something they build and support.
Other countries have passed similar laws. Norway often leads the charge in electric vehicles. In fact Norway plans to completely ban fossil-fuel cars by 2025, just a short three years and some months away.
Nonetheless, this is a great step forward for the U.S. EVs today are still not commonplace, in large part due to higher prices. Higher prices are mostly due to battery costs and smaller volume, but as prices drop over the next few years, adoption will increase.
The gasoline engine has had more than 100 years to evolve. The electric vehicle is still in its infancy, comparatively. If EVs are already achieving efficiency far better than combustion engines and with a range of 400 miles plus, it'll be amazing to see what EVs can achieve in 5, 10 or 20 years.
Most people are interested in EVs but they're cautious and still want to learn more. Once they become more familiar with them, there will be no turning back and the U.S. may even exceed the mandate Biden is setting today.
