“After all, the $ 7,500 incentive is catastrophically stupid.”
Ohio Republican Senator Bernie Moreno has not punched the government's support for electric vehicles.
'If China is dramatically ahead of us in EV, it is good for them. But we are dramatically ahead of them with combustion and hybrids.
Moreno, selected last year, moved from Colombia with his family at the age of five. Before entering politics, he worked in car sales and eventually built a luxury car dealer.
Dealer selection
Moreno is the first Senator in history with car sales, and he says he will be the best person to become President Trump's “Emperor”.
One of his main goals is the $ 7,500 tax deduction for the purchase of EVs and leasing. This is the main propulsion force of EV sales. Trump himself agreed to delete tax deduction and delegation.
Moreno says that tax deduction is a way to do what the government does not do.
The result of this interference itself itself.
The tax deduction was forced to lose EVs from automakers and increase investment in EV -related technology, along with other incentives and profits included in the inflation reduction method of President Joe Biden.
Please supply fuel once …
Needless to say, this is very bad for the bottom line.
Using Ford Motor Co., the EV department in the previous quarter had a $ 1.22 billion loss.
Deleting incentives should be useful for the long term in the long term by enable customers to concentrate on what they want, that is, to be able to focus on gasoline vehicles. As Moreno said, “I never had a clearer time for consumers to be desired and unwanted.”
Still, this change can be painful in the short term.
In October, the Industrial Association called for the Alliance for car innovation to maintain an EV tax deduction to support the Sales of EVs that have already been created in Congress.
Hyundai Motor Co. has recently accelerated a plan to build a new factory in Georgia to use tax deductions. Currently, the company is pivot on hybrids, plug -in hybrids and gas -driven cars.
Like many Republican members, including Trump, Moreno also supports the discarding of the Biden rules for tail pipe emissions.
And it is true that the EV sales have been collided, but the growth rate has been reduced. In the row, many car manufacturers have reduced their costs, pulling back their investments to develop more profitable vehicles.
Hybrid theory
Some automakers, including Ford, have confirmed that new hybrid vehicles have a great advantage in large investment, and for the next few years, they will maintain both hybrid vehicles and conventional gas drive vehicles as part of the sales mix. It is planned.
MORENO says this is a good thing for automakers, good for the country, and supports our strategic benefits.
“If China is dramatically ahead of EVS than us, it's good for them, but we are burning and hybrids and dramatically ahead of them.”
It doesn't mean that China is not trying to fill the gap. In particular, European tariffs on the import of EVs emerged.
The export of hybrid vehicles accounted for a total of 18 % of China in Europe, compared to 9 % of the first quarter of 2024. Several companies, including GEELY and BYD, have developed a new hybrid car that is planning to launch the first hybrid of Tesla's rival Xpeng. Early 2025.
Chinese car manufacturers sell many gas drive vehicles overseas, especially in countries where EVs are not yet popular.
Do Tesla create a vehicle range extender, or is it purely an electric vehicle company? Tesla pivots to compete to increase market share. We will see it.
As the industry adapts, automakers are focusing on a variety of lineups, including hybrids, rather than complaining of all electricity orders to acquire all electricity by 2035.
In addition, Moreno advocates reducing government intervention in the automotive market. He states: Make the market operate without government interference. ”
