With the US auto industry facing the possible rollback of Biden administration moves if Donald Trump becomes president again, Bracewell Policy Resolution Group Senior Principal Frank Maisano told CQ Roll Call it would be in automakers’ best interest to “slow down and see what happens” with regards to the EV transition.
The supply-and-demand trends for EVs happen to fall on an election year where there’s uncertainty about policy, Maisano said. He added that many automakers have already built out the bulk of their investments in EVs. There are plenty of cars on the lot, Maisano said, but they’re not selling as fast as the manufacturers thought they would.
“Consumers are not all-in yet on this,” he said. “Electric vehicles are not going away. But there are still lots of other questions that have to be addressed.”
Many industry analysts are still confident the EV transition will continue even in a new Republican administration because so many billions of dollars have been invested and the global market is shifting rapidly toward EVs in response to climate change.
