Major electric vehicle announcements by President Joe Biden and General Motors are being hailed as a turning point in the transition to widespread EV production and deployment in America. This matters greatly, because this crucial technology can both jump-start U.S. manufacturing to ease the economic and jobs crisis, and rapidly reduce emissions that cause climate change.
But there are still serious barriers to EVs. By far the biggest is the lack of American consumer demand for electric vehicles.
EVs, including plug-in electric hybrids, accounted for less than 2% of new U.S. vehicles sold in 2019.
This number is far lower than in other major markets, especially China, which has triple U.S. production and deployment volume.
Just as worrisome, only 14% of Americans say they are considering buying an EV, compared with 73% of Chinese motorists.
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