If EVs were really an innovation, the state wouldn’t have to bribe and force companies to produce them.
The left likes to treat skeptics of electrical cars as if they were Luddites. Truth is, making an existing product less efficient but more expensive doesn’t really meet the definition of innovation.
Even the purported amenities and technological advances EV-makers like to brag about in their ads have been a regular feature of gas-powered vehicles going back generations. At best, EVs, if they fulfill their promise, are a lateral technology.
Which is why there is no real “emerging market” for EVs in the United States as much as there’s an industrial policy in place that props up EVs with government purchases, propaganda, endless state subsidies, cronyism, taxpayer-backed loans, and edicts. The green “revolution” is an elite-driven, top-down technocratic project.
And it’s increasingly clear that the only reason giant rent-seeking carmakers are so heavily invested in EV development is that government is promising to artificially limit the production of gas-powered cars.
In March, Joe Biden signed an executive order to “set a target” for half of all new vehicles sold in 2030 to be zero-emission. California claims it is banning combustion engines in all new cars in about 10 years. So carmakers adopt business models to deal with these distorted incentives and contrived theoretical markets of the future.