The US is attempting to broadly to shift the country away from gas-powered cars towards electric vehicles
Through President Joe Biden’s USD 1 tn bipartisan infrastructure law, the US will nationally attempt to support building, retooling and expanding the manufacturing of batteries and battery components, as well as establishing battery recycling facilities. With the ambitious goal of EVs accounting for more than 50% of all automotive sales by 2030, the nation must make substantial public and private investments in order to even approximate such a goal.
China has spearheaded state-directed investment into EVs and is enjoying the privledges amidst the currently difficult macroeconomic climate. The US has been improvising directives to study rare earth mineral extraction as a matter of national security. Crucial emerging industries like EVs, green energy. and others are bringing to the forefront an overleverage on Chinese imports for inputs and other components. Recent data from Veloz shows that demand for EVs in the US is rising. Even outside of the current supply chain crisis, the US must further accelerate production and resourcing to sustainably grow these emerging industries.
Companies like Intel and TSMC have been looking to capatalize on these new directives to stake claim in a prospectivly growing US-based chip manufaturing industry. The Biden administration has even met directly with automotive tycoons like Elon Musk of Tesla and Mary Barra of GM. It seems best for America to not try to copy China for the status quo but to gear up for the next generation of battery technologies. The US has notoriously fell behind on high speed rail for mass transit as well as overall infrastructure. It remains to be seen whether the Biden administation or any other political body can bolster and solidify Americas transportation networks.