- Consumer demand for electric vehicles (EVs) has been cooler than anticipated in recent months despite the Biden administration’s massive push to subsidize them.
- The demand slowdown may complicate the administration’s efforts to use government action to boost EV supply dramatically in the coming years in order to meet its goal of having 50% of all new car sales be EVs by 2030.
- “This is a classic example of government intervention trying and failing to force market adoption of a technology for which there is little need or real consumer demand,” David Blackmon, a 40-year veteran of the oil and gas industry who now writes and consults about energy, told the Daily Caller News Foundation.
The Biden administration’s electric vehicle (EV) adoption targets may be in serious jeopardy as consumer demand lags behind expectations.
While the Inflation Reduction Act (IRA), President Joe…
