America Is Losing the World's Biggest Manufacturing and Climate Race: Electric Vehicles
"Electric vehicles (EVs) will overwhelmingly drive the global auto industry growth over the next decade, reaching up to 30 million units by 2030. China is already dominating the emerging EV market with 40% of global production. The US currently produces only 20% of the world’s EVs. Further, the US market and production are not growing as quickly as China. The writer of this article suggests that the US Congress should be far more ambitious and provide consumer tax credits to encourage the sale of more affordable EVs in large numbers. The writer also suggests that the US Congress should also require all new federal government vehicles to be US-made EVs. Finally, the writer says the US must begin to produce more of the minerals that are crucial to EVs. It seems true that the US is recently losing the race on clean energy innovation, despite former President Barack Obama’s efforts to boost competitiveness in the sector. If the US really do not want to get left behind, it would better hurry up and look for creative strategies across the supply chain such as finding ways to efficiently develop a domestic supply of critical minerals for EVs." - Liz Lee
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Published
Apr 9, 2019
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Liz Lee
Liz, an Associate Director at Counterpoint Research, has 14+ years of extensive experience in the tech industry. Previously, Liz worked for Samsung SDI focusing on IR (Investor Relations) along with insight-based analysis of emerging tech markets and corporate strategies. She holds an International MBA degree from Waseda Business School.
