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Why China is winning the EV war

Vox

2.1M Views . 2024-06-07

And what it means for US climate goals. Support our work. Become a Vox Member today: http://www.vox.com/memberships The Biden administration set a climate goal that 50 percent of all new car sales in the US would be electric by 2030. Meanwhile, China reached that milestone this year, in 2024. This video explains how China was able to fast-track EV adoption and develop an EV battery that rivals what any other country has been able to do so far. It’s been a decade of government strategies that have created some of the biggest battery companies in the world, like CATL and BYD. The Biden administration wants to keep Chinese cars and batteries out of the country — but our video explains what kind of position that puts the US in in terms of meeting its own climate goals. Sources and further reading: https://www.vox.com/climate/2024/3/4/24087919/biden-tariff-chinese-ev-byd-battery-detroit https://www.technologyreview.com/2023/02/21/1068880/how-did-china-dominate-electric-cars-policy/ https://www.nytimes.com/2024/05/27/business/biden-evs.html https://www.nytimes.com/interactive/2023/05/16/business/china-ev-battery.html https://www.bloomberg.com/news/articles/2023-09-14/from-cheap-money-to-tax-breaks-evs-in-china-get-a-lot-of-love?embedded-checkout=true&sref=qYiz2hd0 https://www.iea.org/reports/global-critical-minerals-outlook-2024 Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com. Subscribe to our channel and turn on notifications (🔔) so you don't miss any videos: http://goo.gl/0bsAjO Watch our full video catalog: http://goo.gl/IZONyE Follow Vox on Facebook: http://goo.gl/U2g06o Or Twitter: http://goo.gl/XFrZ5H

Ford Motors cut back production on their F-150 Lightning electric pickup truck due to poor sales, which is attributed to its higher cost compared to the gas-powered version. This highlights a broader challenge for the US EV market, where high prices make electric vehicles difficult to sell to the average consumer.

EV sales
Ford F-150 Lightning
Electric vehicle costs

  • Ford Motors cut back production on their F-150 Lightning due to declining sales, partially attributed to its higher price compared to its gas-powered counterpart.
  • The high cost of EVs, with the average price being $55,000, makes them difficult to sell to most US consumers, hindering EV adoption despite its importance for climate goals.

Insights from the YouTube Video Text:

1. Why is the Ford F-150 Lightning struggling?

The text highlights the high cost of the electric truck as a key factor in its sales slump. The F-150 Lightning is priced higher than its gasoline-powered counterpart, making it a less attractive option for consumers, especially in the current economic climate.

2. Is the high cost of EVs a barrier to widespread adoption?

The text states that the average price of a new EV in the US is around $55,000, making them inaccessible to most Americans. This price point presents a significant hurdle to achieving the necessary EV adoption rates for climate goals.

**3. What

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