Summary
– Electric vehicles make up only 1% of all registered vehicles in the U.S. as of the third quarter of 2023
– The rapid push for electric vehicles has not resonated with buyers or suppliers according to former Big Three executives
– The expensive and unreliable charging infrastructure, along with political polarity, are some of the challenges facing electric vehicles
– American consumers are stubbornly sticking to gasoline engines due to convenience and infrastructure
– Despite the push for EVs, internal combustion engine vehicles are still being produced and EV programs are being scaled back
Article
Former auto executive Bob Lutz, who has held positions at Ford, Chrysler, and General Motors, shared his insights on the pros and cons of electric car technology in an interview with Fox News Digital. Lutz highlighted that only 1% of all registered vehicles in the U.S. are electric as of the third quarter of 2023. He criticized the rapid push for electric vehicles, stating that expecting an overnight shift to EVs is not practical and is unlikely to succeed. Lutz noted that while there are advantages to driving electric cars, such as fewer moving parts, durability, and intelligent technology, the high cost and unreliable charging infrastructure remain significant barriers in today’s market.
Despite the benefits of electric vehicles, a report by the Texas Public Policy Foundation revealed that EVs would be substantially more expensive without substantial taxpayer-funded incentives. The report estimated that the average model year 2021 EV would cost nearly $50,000 more to own over a 10-year period without the $22 billion in government subsidies provided to electric car manufacturers and owners. Additionally, President Biden’s infrastructure law allocated funds for EV chargers, but only eight chargers were reportedly being built as of December. Lutz highlighted the public’s attachment to gasoline engines, citing convenience and infrastructure as significant factors in consumer preferences.
Former Toyota President Akio Toyoda’s skepticism about the rapid phase-out of gas-powered vehicles appears to have been justified in the current market scenario, according to Lutz. He pointed out that there has been a shift in the industry’s EV programs, with many companies scaling back on their EV initiatives. Lutz emphasized that the flexibility of automakers in continuing to produce internal combustion vehicles is essential, despite government efforts to accelerate the transition to electric cars. He acknowledged that there is a divide in public opinion on EVs, with liberals advocating for them as a solution to environmental issues while conservatives view them as a form of government control.
Lutz identified the political ramifications associated with EV adoption, noting that conservative Americans perceive buying an EV as aligning with the Biden administration’s policies. He highlighted the current view of EVs as a political statement, contributing to lower sales among conservative consumers. Lutz suggested a gradual improvement in EV technology and infrastructure over the next decade to address issues such as mileage and charging supply. He advised auto industry executives to remain flexible and responsive to consumer demands while navigating the transition to electric vehicles.
Former Chrysler CEO and Chairman Bob Nardelli, along with Bob Lutz, discussed the implications of a forced transition to electric cars within the automotive industry. Lutz emphasized the importance of staying adaptable and reacting quickly to market changes to maintain competitiveness. He expressed optimism that common sense would prevail in the industry, leading to the availability and acceptance of electric vehicles over time. Despite challenges such as range anxiety and limited recharging stations, Lutz believes that EVs will gradually replace internal combustion engine vehicles as technology advances.
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