How Biden’s E.V. Plan Could Help Tesla and Squeeze Toyota

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How Biden’s E.V. Plan Could Help Tesla and Squeeze Toyota

The New York Times2021-08-06

A push to increase sales of electric vehicles favors companies that already have all-electric cars on the market and could penalize those that don’t. The Biden administration’s vow on Thursday to ...

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POHLING88
·2021-08-06
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SimonGoh
·2021-08-06
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carjang
·2021-08-06
Like and comment please
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domobc
·2021-08-06
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Ly99
·2021-08-06
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youaintjess
·2021-08-06
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Plan Could Help Tesla and Squeeze Toyota\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-06 15:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.nytimes.com/2021/08/06/business/biden-electric-vehicles-automakers.html><strong>The New York Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A push to increase sales of electric vehicles favors companies that already have all-electric cars on the market and could penalize those that don’t.\n\nThe Biden administration’s vow on Thursday to ...</p>\n\n<a href=\"https://www.nytimes.com/2021/08/06/business/biden-electric-vehicles-automakers.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TM","symbol_name":"丰田汽车","start_time":0,"source_url":"https://www.nytimes.com/2021/08/06/business/biden-electric-vehicles-automakers.html","article_id":"1185532559","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1185532559","pubTimestamp":1628233837,"sourceInfo":{"source_id":"lsy1608616134662","name":"The New York Times"},"weMediaInfo":null,"summary":"A push to increase sales of electric vehicles favors companies that already have all-electric cars o","collect":0,"end_time":0,"defaultTopTitle":"nytimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TM":"丰田汽车","TSLA":"特斯拉"},"translate_title":"拜登的E.V.计划可以帮助泰斯拉并挤压丰田汽车","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TM":0.9,"TSLA":0.9},"content_text":"A push to increase sales of electric vehicles favors companies that already have all-electric cars on the market and could penalize those that don’t.\n\nThe Biden administration’s vow on Thursday to push sales ofelectric vehiclesto50 percent of new car purchases by 2030means that there’s no place left to hide for any carmaker resisting the shift to battery power.\nEuropeandChinawere already heavily promoting electric vehicles using regulations, incentives for consumers, and subsidies for carmakers and battery producers. President Biden’s commitment to follow a similar strategy means that the world’s three largest car markets are moving away from internal combustion at a faster pace than anyone predicted a few years ago.\n“This is the last major piece in the jigsaw,” said Peter Wells, director of the Center for Automotive Industry Research at Cardiff Business School in Wales. “This does put pressure on some of the more laggardly companies.”\nMr. Biden’s announcement is good news for Tesla, which accounts for more than two-thirds of the battery-powered cars sold in the United States, and potentially bad news forToyota Motor, the world’s largest automaker, which will not begin selling a car powered solely by batteries in the United States until next year.\nIn between areGeneral Motors,Ford MotorandVolkswagen, which have begun selling tens of thousands of electric cars but depend on vehicles with internal combustion engines for most of their revenue and profit.\nIt is by no means certain that the familiar car brands will be dividing the expanding market for electric vehicles among themselves. The shift to battery power is an opportunity for Chinese carmakers to expand into new markets, which they are doing with strong support from their government.NIO, for example, has announced plans to open a dealership in Oslo in September as a first step into the European market.\nThe president’s declaration could also help start-ups like Rivian and Lucid Motors, both based in the United States, that are expected to deliver their first vehicles this year.\nMr. Biden framed his push in part as a geopolitical competition in an emerging technology. The initiative is part of an effort “to drive the electric vehicle future forward, outcompete China and tackle the climate crisis,” according toa White House fact sheet.\nEurope is also far ahead of the United States in E.V. sales. The European Commission, the administrative arm of the European Union, has effectively compelled the auto industry to sell electric cars by imposing stiff fines on companies that exceed limits on carbon dioxide emissions.\nGovernments in Germany and other European countries are also offering generous cash incentives for electric car purchases. And an increasing number of consumers like the smooth, quick acceleration of electric vehicles, the savings on fuel and maintenance, and the satisfaction of not producing any tailpipe emissions.\nIn the first six months of the year, 17 percent of the new cars sold in Europe were battery-powered vehicles or plug-in hybrids, according to Schmidt Automotive Research, which tracks E.V. sales in Europe. In the United States, fewer than 4 percent of new cars were pure-electric vehicles or plug-in hybrids, according to June sales figures compiled by Argonne National Laboratory.\nThe European Commission continues to turn up the pressure, announcing plans to effectivelyban sales of cars with internal combustion enginesin 2035.\nBy comparison, the Biden administration’s goals are modest, which has earned it criticism from some environmentalists. Plug-in hybrids, which have internal combustion engines in addition to batteries, would count as electric vehicles, giving Toyota some breathing room because of its leadership in that technology. And in 2030 half of the vehicles sold in the United States would still be powered by gasoline or diesel. Because cars typically stay on the road for more than a decade, that means the country will probably not be rid of internal combustion vehicles or gas stations for many years.\nThe White House’s caution may reflect recognition of the scale of the industrial transformation that lies ahead. The president’s plan also calls for construction of a nationwide network of charging stations and money to help companies retool factories to produce electric cars and components. One major risk is economic dislocation and job losses if the businesses that make parts for gasoline vehicles can’t adapt.\nAmerica also lacks enough battery factories. The European Commission is providing financial support to build battery factories in the European Union to reduce its reliance on Asia, where most batteries are currently 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