Costs of Electrifying the US Auto Industry are Sky-High

Electric VehiclesHigh Tech / High TouchSalesMoney Matters
Written By Jennifer Joslyn

⚡️ Costs of Electrifying the US Auto Industry are Sky-High.

To reach proposed EPA emissions targets for 2032, the US will need to expand EV adoption and infrastructure, which will come at a high cost. The country currently has low EV adoption rates, with EVs accounting for just 5.8% of total auto sales in 2022. Powering an increase in electrification will require a significant expansion of existing infrastructure and supply chains, and although utilities may have to invest in charging infrastructure, consumers should not suffer from higher electricity rates if it's properly managed. Decarbonizing the transportation sector is a necessary step toward meeting emissions goals and reducing carbon footprint, particularly as the US is the second-biggest contributor to carbon emissions in the world.

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Jennifer Joslyn
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