Lexington-Fayette

Are high gas prices driving people to electric cars? – Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky 2022-05-10 08:45:08 –

Electric cars are more than the way Elon Musk earned enough money to buy Twitter.

EVs are a fast-growing share of the US car market, and federal policies are urging automakers to electrify their fleets more, along with consumer demand.

President Joe Biden is pushing to cover at least half of all new car sales with electric vehicles by 2030, and a bipartisan infrastructure bill signed last year promises more than $ 7 billion in charging stations. doing.

Also, people want these electric cars.

According to data from the Ministry of Energy, Americans bought more than 600,000 electric or plug-in hybrid vehicles in 2021, nearly doubling the total in 2020 or 2019, and just a few hundred in 2010. It made a big leap from.

So why do more people use electricity?

The answer isn’t all that surprising, according to Jessica Caldwell, executive director of insights for car shopping and review sites Edmonds.

“We recently conducted a survey asking people,’If you buy an electric car, why buy it,'” Caldwell said. “And I think the answer is pretty typical of what you expect. Of course, the sustainability of the environment was in the minds of many, and of course, given the high gas prices. , It really changed people’s minds. I have to hit them into my wallet in order for people to really change your behavior. “

A Forbes-YouGov poll released last fall found that the two most common reasons to buy an electric vehicle are to contribute to the environment and reduce vehicle taxes and maintenance costs. rice field.

At the same time, electric vehicles are not yet available to everyone for reasons that go beyond mere cost.

According to the US Government Accountability Office’s testimony last month, the US government currently owns about 1,100 charging stations, but more than 100,000 will be needed to support the spread of electric vehicles. There are less than one-third of gas stations charging stations, even if expanded to publicly available chargers that are not owned by the government.

However, at least one billing company does not necessarily consider it a problem. Jonathan Levy, Chief Commercial Officer of Charging Network EVgo, said the jump could be gradual as electric vehicles become more widespread.

“First, we reject the assumption that there is a shortage of chargers,” Levy said. “Global EV sales exceeded 6 million units in 2021 and are doubling this rapidly. Yes, we need more to catch up, but today’s market has spare capacity. 2030 You don’t have to build the infrastructure of the year. Today, right? We all want to boost electric vehicle sales to 100% as soon as possible, but now it’s a single digit. So today Needs to build 2025 infrastructure and needs to build 2030. Infrastructure in 2025, 2028 or so. “

Meanwhile, supply chains are also making it difficult for businesses to build enough electric vehicles to meet demand.

Electric vehicles rely on batteries that use minerals such as lithium, which are difficult for businesses to access. Without a sufficient supply of minerals, there are not enough batteries to make the electric cars and trucks people want.

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