On Friday’s broadcast of CNBC’s “Squawk Box,” Energy Secretary Jennifer Granholm said part of the reason for the slowdown in demand for electric vehicles is that they are more expensive than gasoline-powered vehicles and “there is a confusing market for tax incentives.” said. ”
asked co-host Andrew Ross Sorkin.[T]There’s obviously been a huge push from the government for this, and frankly I think we’ve looked at it from a market standpoint, looking at EVs and how that’s going to ultimately impact oil and other interests. . But clearly there is a slowdown happening and we are seeing it. By the way, Tesla’s stock price has fallen even as a result of the world’s EV manufacturers, which I think everyone can agree is probably the most successful. But it’s becoming increasingly difficult for them too. So the question is, what is it about? Is it an infrastructure issue? Is it a market issue? Are the products made by other automakers not good enough? So, what should I do if that happens? ”
Mr. Granholm replied: One is that the price of EVs is skyrocketing. Well, Kelley Blue Book just found that EV prices have fallen 23% in the last year alone and are now relatively on par with new internal combustion engines. Therefore, the price issue continues to move towards the consumer. We’re not there yet. Combining tax incentives with state tax incentives makes them even more attractive. However, the tax benefit market is complex. Dealers have to work on educating a lot of people to be able to apply these tax benefits at their dealership. A little-known fact is that leasing a car allows you to take full advantage of the more restrictive tax benefits. And, of course, this is an infrastructure issue, and people are worried about range. That’s why we’ve been so focused on increasing the number of charging stations across the country. By 2026, he expects to have 500,000 charging stations across the country. ”
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