In 2020, Out of 3.4 million electric cars sold in the world, only 328K was in the US... Compared to 1.39 million in Europe and 1.33M in China. Why is it that the US seems to have only a quarter of the sales than China and Europe?
I think the answer lies in effective government incentives. Similar to the GPS, General Satellite technology and the internet revolut ion (Think DARPA), the government can play a vital role in the adoption and the innovation in any ground-breaking technology.
Both Europe and China have had a head-start in policy pushing the universality of electrification. The US, however has been taking some steps too! Recently, the Biden administration has invested in building the domestic supply chain for batteries, a critical piece of the EV revolution.
Today, on Things Have Changed, we’re going to talk about what governments are doing to clean up supply chains and pursue EV dominance.
Some helpful links: