According to the Biden-Harris official website, the incoming administration aims to achieve a carbon-neutral economy by 2050 with an investment of $2 trillion in clean energy infrastructure over the next four years. This would help to create millions of new jobs in the Industry, including positions in research and development, manufacturing, and installation of electric vehicle (EV) Charging Stations.

The following are some of the provisions of Biden's plan that would impact the EV industry:

Incentives for EV Manufacturers and Buyers

• Biden has proposed a plan to offer tax incentives and financial assistance for companies that manufacture batteries and EV components in the US. Currently, most of these components are imported from other countries, which makes EVs expensive to produce.
• He also plans to create a point-of-sale incentive for buyers of new EVs, which would help to reduce the price gap between EVs and traditional gasoline-powered cars.

Investment in EV Charging Infrastructure

• The plan aims to install 500,000 new public EV charging stations across the US by 2030, which is almost 25 times the current number of EV charging stations in the country.
• Additionally, the administration wants to create a program to fund the installation of charging stations in apartment buildings and other multi-unit dwellings.

Creation of New Jobs in the EV Industry

• The Biden plan would create more than one million new jobs directly in the EV industry, including positions in manufacturing, installation, and maintenance of EVs and charging stations. This number is in addition to the indirect jobs that would be created as a result of increased economic activity in the industry.
• The plan also aims to invest in job training and apprenticeship programs to help workers transition to the renewable energy sector.

Overall, the Biden plan to support the EV industry would have many benefits for the environment and the US economy. By reducing dependence on fossil fuels and investing in clean energy infrastructure, the country can create new job opportunities while simultaneously fighting climate change.

According to a report by the International Energy Agency (IEA), the number of electric cars on the road is expected to reach 125 million by 2030, which would represent a 40% increase compared to current levels. This would require significant investments in the EV industry, which the Biden plan seeks to provide.

Key Takeaways

• The Biden plan would incentivize EV manufacturers and buyers through tax incentives and financial assistance, making EVs more affordable and accessible.
• The creation of new public and private charging stations would make it more convenient for people to use EVs instead of traditional cars.
• The EV industry would create more than one million new jobs directly, in addition to indirect jobs that would be created as a result of increased economic activity in the industry.
• The plan would have many benefits for the environment and the US economy, including reduced dependence on fossil fuels and reduced greenhouse gas emissions.

In conclusion, the Biden plan to support the EV industry is a step in the right direction towards achieving a carbon-neutral economy and creating new job opportunities. With the right investments and incentives, the US can become a leader in the global EV market, helping to reduce the impact of climate change and create a sustainable future for generations to come.