WASHINGTON (AP) — During a visit to the Detroit Auto Show, President Joe Biden, gearhead for his own vintage Corvette, presents his administration’s efforts to promote electric vehicles.
The president, who recently test drove Jay Leno and Pine Green’s 1967 Stingray on CNBC’s “Jay Leno’s Garage,” may get a chance to get behind the wheel of the new car when he stops by Detroit on Wednesday. . There aren’t many opportunities for him to sit in the driver’s seat anymore. As president, he is not allowed to drive on public roads.
But he mostly goes to the North American International Auto Show to discuss huge new climate, tax, and medical laws that offer tax incentives for buying electric cars.
Mr. Biden has applauded the recent boom in electric vehicle battery and assembly plant announcements, much of which was underway long before the Anti-Inflation Act passed into law on Aug. 16. — Provides $5 billion over five years to help the state build a network of EV charging stations.
The latest law requires electric vehicles to be manufactured in North America to qualify for the new federal tax credit of up to $7,500. Batteries for covered vehicles must also be manufactured in North America, and battery minerals must be produced or recycled on the continent. The credit aims to build the U.S. electric vehicle supply chain and end its dependence on other countries, especially China.
The passage of the bill has spurred automakers to accelerate efforts to find North American batteries and battery minerals from the United States, Canada, or Mexico to ensure their EVs qualify for credit.
In April, Ford began building electric pickup trucks at a new plant in Michigan. General Motors has converted an old factory in Detroit to make electric Hummers and pickups.
The companies announced three EV battery factories long before the legislature reached a compromise on the bill. These are all joint ventures with battery manufacturers. GM’s battery plant in Warren, Ohio has already started production. A government loan announced in July will help GM build a battery plant.
Ford announced last September that its Tennessee plant would build next-generation electric pickups, while GM announced an EV assembly plant in Lansing, Michigan. Spring Hill, Tennessee. and Orion Township, Michigan. In May, former Fiat Chrysler Sterantis announced plans to build another joint venture battery plant in Indiana, and a battery plant in Canada.
Hyundai announced in May that it would build a battery and assembly plant in Georgia, while Vietnamese automaker VinFast announced in July that it would build a plant in North Carolina. Honda and Toyota announced their U.S. battery plants after the law passed, but they’ve been planning for months.
Biden has long spoken about the importance of building a domestic EV supply chain, which may have prompted some companies to set up factories in the United States. Shipping from overseas is heavy and expensive.
Automakers are also rolling out more affordable electric options, despite the cost of batteries. The latest came out last week from General Motors, the Chevrolet Equinox small SUV. Prices start at around $30,000, and range is 250 miles (400 kilometers) on a single charge. Buyers can get 300 miles (500 kilometers) of range by paying more.
Equinox checks assembly boxes in North America. Made in Mexico. The company has not disclosed where the batteries will be manufactured, but is working to meet other criteria to qualify for the tax credit.
Krisher reported from Detroit.
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https://wgnradio.com/news/political-news/ap-car-guy-biden-to-tout-electric-vehicles-at-detroit-auto-show/ Car man Biden WGN Radio 720 promoting electric cars at Detroit Auto Show