Impact of the 2024 Election on EVs: Policy Shifts, Tariffs, and the Road Ahead for Electric Mobility

11/20/24 • 77 min

Summary
Today's Grid Connections panel with Matt Teske, Founder of Chargeway ( https://www.chargeway.net/ ), Loren McDonald of Paren ( https://www.paren.app/ ) and John McElroy of Autoline Network ( https://www.autoline.tv/ ) discusses the rapidly changing EV landscape, focusing on the impact of political shifts, potential tax credit changes, and evolving consumer trends. The panel discusses hybrids, EV leasing growth, UAW influence on policies, and competition from global manufacturers like Chinese automakers. Key topics include government funding for EV infrastructure, public perception challenges in the U.S. and Europe, and the importance of effective marketing to drive EV adoption. Tune in for insights on how these dynamics shape the future of electric vehicles and charging solutions.

Takeaways

Political shifts and potential tax credit losses could reshape EV adoption, particularly for affordable models.
Hybrids may regain popularity as a transitional choice requiring minimal lifestyle changes.
Leasing is growing as a gateway for consumers hesitant about upfront EV costs.
Effective communication and marketing are essential to dispel misconceptions about EV affordability and value.
UAW concerns highlight the tension between EV adoption and job security in traditional manufacturing.
Chinese automakers are aggressively entering the market, challenging U.S. and European brands.
Europe’s auto sector faces unique struggles, offering strategic lessons for the U.S. market.
EV infrastructure development is focusing on utilization, customer experience, and rideshare integration.
Stable government funding for EV charging networks remains vital to supporting adoption.
Automakers must adapt quickly to shifting consumer demands and a competitive global market.

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Keywords
electric vehicles, EV infrastructure, political impact, EV tax credits, consumer behavior, leasing trends, hybrid vehicles, automotive industry, UAW, global competition, EV, automotive industry, charging infrastructure, geopolitical dynamics, European market, Chinese automakers, government funding, public perception, market trends, electric vehicles

Takeaways

Political shifts and potential tax credit losses could reshape EV adoption, particularly for affordable models.
Hybrids may regain popularity as a transitional choice requiring minimal lifestyle changes.
Leasing is growing as a gateway for consumers hesitant about upfront EV costs.
Effective communication and marketing are essential to dispel misconceptions about EV affordability and value.
UAW concerns highlight the tension between EV adoption and job security in traditional manufacturing.
Chinese automakers are aggressively entering the market, challenging U.S. and European brands.
Europe’s auto sector faces unique struggles, offering strategic lessons for the U.S. market.
EV infrastructure development is focusing on utilization, customer experience, and rideshare integration.
Stable government funding for EV charging networks remains vital to supporting adoption.
Automakers must adapt quickly to shifting consumer demands and a competitive global market.

Watch the full episode of this podcast episode on Youtube

Looking to either buy a Tesla or even test drive one, use our referral code.

Travel for work and looking for a card that rewards your travel needs? Earn 60,000 bonus points with either Chase Sapphire card.

Looking to go off grid or just need a better internet setup? Try Starlink FREE for a month.

Want to be a guest on Grid Connections?

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Previous Episode

Post-Election Impact on EV Charging, Incentive & the Auto Industry with Loren McDonald of Paren

Summary
Loren McDonald, Chief Analyst at Paren ( https://www.paren.app/ ), shares his thoughts on the potential impacts of the recent U.S. election on the EV and automotive industry. They dive into possible shifts in EV tax credits, the future of federal programs like NEVI and CFI, and how changes in political leadership may affect legacy automakers’ emissions standards. Loren shares insights into emerging trends in the EV market, including why hybrids are seeing renewed interest, challenges in the EV truck market, and how rideshare drivers are driving up public charger utilization. They also discuss improvements in charger reliability and the growing presence of Tesla’s Supercharger network as the largest open-access fast charging network in the U.S. Tune in to gain a comprehensive understanding of what these changes could mean for EV manufacturers, charging infrastructure, and consumers.

Takeaways

EV Tax Credit Uncertainty: The new administration may end federal EV tax credits, with potentially significant impacts on middle-market EVs that rely on these incentives to remain competitive in pricing.
NEVI and Federal Funding Stability: Programs like NEVI, designed to expand EV charging infrastructure, appear secure despite the political shift, as funds are already allocated to states for several years, though certain states may opt not to use these funds.
Growth of Hybrid Vehicle Sales: With consumer interest in lower-cost hybrid options over full EVs, automakers may shift more focus to hybrids, especially as new models at competitive price points enter the market.
Challenges in the EV Truck Market: EV trucks, including models from Ford and GM, face adoption challenges as traditional truck buyers show hesitation, particularly around towing capabilities and charging convenience.
Increasing EV Charger Utilization Rates: Rideshare drivers are now a key driver of charging demand, contributing to high utilization rates at urban charging stations and supporting profitability for charging network operators.
Focus on Charger Reliability and Uptime: Improvements in public charging reliability are underway, with networks investing in durable hardware and faster maintenance, essential for gaining public trust in EVs.
Tesla's Growing Influence on Public Charging: Tesla now operates the largest open-access fast charging network, allowing non-Tesla EV drivers to use its Superchargers, surpassing other U.S. charging networks in scale.

Watch the full episode of this podcast episode on Youtube

Looking to either buy a Tesla or even test drive one, use our referral code.

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Keywords
2024 US elections, EV industry, automotive landscape, EV charging, hybrids, tax incentives, consumer behavior, charging infrastructure, sales trends, political impact, EV tax incentives, charging infrastructure, NEVI program, EV sales trends, public charging reliability, Tesla Supercharger, EV truck market

Next Episode

Albert Gore, Executive Director of ZETA

Summary

Al Gore, Executive Director of ZETA (Zero Emission Transportation Association), discusses the future of electric vehicles (EVs) in the U.S. He highlights ZETA's advocacy for 100% EV sales, advancements in charging infrastructure, and the impact of political shifts on EV adoption. Key topics include consumer attitudes, domestic manufacturing, and China's role in the EV supply chain. The discussion underscores a promising future for the EV industry, with opportunities for innovation and job growth. Along with the current political landscape and headwinds that EVs could be facing coming out of the 2024 U.S. Presidential election.

Takeaways

ZETA, a coalition of 50+ EV-focused companies, drives the push for 100% EV adoption.
Strong consumer demand and evolving charging infrastructure are accelerating the EV transition.
Political shifts and advocacy efforts play key roles in shaping clean transportation policies.
Domestic EV manufacturing is growing, while China's supply chain dominance presents both challenges and opportunities.
Technological advancements and investments are making EVs more affordable, fueling optimism for the industry's future.

Watch the full episode of this podcast episode on Youtube

Looking to either buy a Tesla or even test drive one, use our referral code.

Travel for work and looking for a card that rewards your travel needs? Earn 60,000 bonus points with either Chase Sapphire card.

Looking to go off grid or just need a better internet setup? Try Starlink FREE for a month.

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Keywords
ZETA, electric vehicles, EV adoption, charging infrastructure, domestic manufacturing, political landscape, consumer sentiment, supply chain, China, clean energy