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Who cares what China does with its market manipulation and subsidies, to power battery cars with coal-based electricity.
Battery cars make no sense for the American market without heavy government subsidies, which should stop immediately.
If you think gas-powered vehicles are already deeply subsidized and protected from foreign competition, you’ve completely misunderstood the car market.
Literally everything about modern motor vehicle manufacturing requires DEEP subsidies, regardless of drivetrain. Manufacturers get HUGE property and corporate tax breaks, the big vehicles that are bought now are often done so with business tax credits, there are oil subsidies to fuel the vehicles, and the Federal Gas Tax isn’t indexed for inflation and hasn’t been adjusted since 1993 (the Highway Trust Fund has been insolvent since 2008 and is only kept afloat with infusions of cash from the general fund).
All said and done, hundreds of billions of dollars in subsidies are spent every year to support ICE vehicles. Eliminating a small tax credit to encourage the adoption of a different drive train and spin up a new market sector isn’t going to make a dent in anything.
Business deductions aren’t subsidies since they apply to all businesses. Subsidies would be government handing out no-payback loans and other grants to incentivize adoption of alternative drivetrains.
As we’ve seen from the US market, the ordinary consumer is saying “hell no” to EVs.
Just saw a house in Florida that burned to the ground when the surge from Hurricane Milton last month rolled in and salt water reached the batteries in a Tesla in the garage. Great technology, eh?
gosh, one electric car burned down a home. Earlier this year Hyundai and Kia recalled millions of cars (gas powered) because they kept buring down homes. So, at best, that’s argument is a tie.
Deductions are subsidies if they accomplish the goal of encouraging eligible industries to adopt the behaviour targeted by the deduction. Direct subsidies are when governments, federal, state, or local, abate taxes and provide infrastructure or education dollars to encourage business to locate in their community. Which is common whenever any factory is built or substantially expanded. Including already established ICE plants.
EVs need a lot of work. What they require most is standardization. I can pull up to most any gas station in the US and the pump nozzle will fit my car. Not so of electronic charging ports.
Resale values will kill the EV.
When the the rental car companies are liquidating there EV fleets and suing Tesla for the residual differential, mission control there is a problem!
The government needs to quit subsidizing everything. Let the market sort it out. I will buy an electric car, or a hydrogen car, or a propane car when it makes sense for me. The government needs to quit playing favorites with my tax.money
+1
Raymond, that ship sailed decades ago. One of two things will now happen:
Tesla is going to get even more subsidies from the US government and no other EV manufacturer will.
All subsidies will go away, thereby locking in Tesla’s advantage that they got via your tax dollars.
There’s a reason Musk was so in on Trump winning.
These aren’t cars. They’re coffins.
Who didn’t know that the EV market was in trouble when Joey Biden and his group of merry men started mandates? If anything, the last election proved is that Government Shills will never be smarter or more informed than America’s working men and women. Personally, I would love to have an EV as a second car to use basically for shorter trips and grocery getters. But the MARKET has to get to a reasonable price to make it worth while.
Who cares about resale value?! Most vehicles depreciate like a rock. We drive a 15′ Honda Odyssey for long trips, and a 13′ Chevy Volt (PHEV) for daily commuting. These are the best cars we have ever owned. Dumb move on Chevy for discontinuing the Volt. 40 miles of electric range really adds up. Once you switch to PHEV/EV you never go back. The only maintenance issue I’ve had on the Volt was tire replacement and light bulb! If solid state battery technology ramps up to production scale ICE vehicles are going to look like horse and buggies.
Apparently, the major rental car companies’ care about resale value!