EV Bubble Bursts: Automakers Slam Brakes, Biden Backtracks, Trump’s Vindication Looms

CNBC recently dropped a bombshell, revealing that the big dream of switching from gas-guzzling cars to electric vehicles (EVs) has hit a major speed bump. Yep, you read that right! The once-hyped up EV craze has crashed and burned like a wet firework.

According to the report, automakers like Ford Motor, General Motors, Mercedes-Benz, Volkswagen, Jaguar Land Rover, and even the “cool kid on the block,” Tesla, are hitting the brakes on their electric vehicle plans. It looks like the EV bubble has burst, and the reality check is hitting hard on the car companies.

The article points fingers at sky-high interest rates, crazy raw material costs, and the shocking truth that EVs are way pricier than good ol’ gas-guzzlers. Surprise, surprise! Turns out consumers aren’t exactly racing to switch to electric when it means draining their wallets dry.

And guess who else overplayed their hand? The Biden administration. They thought Americans would leap at the chance to go electric, setting a goal for half of all new U.S. cars to be EVs by 2030. Well, turns out people aren’t buying it – both literally and figuratively.

The New York Times spilled the tea that Biden is backtracking on his EV plans to keep automakers and unions happy. They say it’s about saving jobs, but let’s be real, it’s probably to save face before the upcoming elections. We all know that political punches are thrown hard when promises don’t stack up.

Now, picture this: Trump swooping back into the White House. If that happens, brace yourself for a full stop on all things EV. The man’s all about American energy and he ain’t shy about calling out the EV charade. According to him, electric cars don’t cut it – too pricey, too short-lived, and yup, you guessed it, all lined up to roll off the Chinese assembly line.

In the end, the moral of the story is clear – the EV fantasy might be fizzling out faster than day-old soda. So, buckle up for the ride as the reality of gas-powered cars keeps on chugging along, leaving the EV bubble in its dust.

Written by Staff Reports

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