Washington, D.C. - Dubbing it an "electrical vehicle mandate in disguise," Power The Future slammed the new tailpipe emissions rules released today by the Environmental Protection Agency (EPA) that call for up to 56 percent of all passenger vehicles sold to be fully electric within the next six years. The mandate comes amid a string of bad news for EVs, including slumping sales, production cuts, less investment, and layoffs.
"The Biden Administration is using executive orders to push this EV mandate because he knows Congress won't pass it and because the American people don't support it," said Daniel Turner, Founder and Executive Director for Power The Future. "If EVs are as popular as Joe Biden claims, he wouldn't have to force them through executive fiat or prop them up with taxpayer subsidies. With layoffs of workers, billions in losses, and CEO's losing their jobs, it's clear the electric vehicle bloodbath has already begun."
Notable EV market failures over the last year include:
Electric vehicles made up less than 8 percent of new car sales in 2023 with demand expecting to decrease further this year.
Just this week, the CEO of Hertz rental car was replaced after a failed EV adoption leading to the company losing $245 million.
Despite supporters touting EV sales growth in 2023, Ford still lost $5.5 billion on EVs during the same year.
Tesla, arguably the most popular EV manufacturer, could lose money some time in 2024 due to waining interest in EVs, according to some analysts.
Power The Future is a 501c4 non-profit dedicated to fighting for American energy workers.
