Both Biden’s and Trump’s Policies Are Making E.V.s More Expensive
President Donald Trump and former President Joe Biden completely disagree on electric vehicles (E.V.s) and the government’s role in fostering their use. Biden’s Inflation Reduction Act apportioned billions of dollars for shoring up production and adoption of clean energy, including $7,500 federal tax credits for anyone who buys an E.V.
Politico wrote in December that Trump was “vowing an all-out assault” on Biden’s “efforts to make electric vehicles the new king of the American road.”
But Trump is not the only one whose policies make it difficult for E.V. companies to innovate. In fact, Biden’s signature law is having a very similar effect. A new bare-bones entry into the market provides a perfect illustration.
E.V.s typically cost more than their gas-burning counterparts. Nearly 60 percent of respondents to a June 2024 Associated Press/NORC poll cited higher prices as a major reason they were unlikely to buy a fully electric car.
In April, Slate Auto—an upstart automaker whose backers include Jeff Bezos—announced its first product, the all-electric Slate Truck. Slate hasn’t given exact pricing, but it says the truck will cost $20,000 or less when factoring in the $7,500 federal rebate.
Despite the modern trend of enormous trucks, the two-door pickup is considerably smaller than its competitors; the company says it most closely resembles a 1985 Toyota SR5. And unlike most E.V.s, which feature cutting-edge technology, the Slate Truck is pure meat and potatoes. It doesn’t even have a radio, and the windows operate by hand crank. There is one model, available in one color.
But Slate apparently had to make several sacrifices in order to get to that price—specifically, sacrificing innovation in order to navigate federal incentives and restrictions.
Article from Reason.com
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