What Will Give Electric Cars a Boost in the U.S.?

John Paul MacDuffie spoke with Wharton Business Daily on SiriusXM about President Biden’s executive order to dramatically increase electric car sales by 2030.

“It’s very ambitious, it’s aspirational, and it’s nonbinding. It’s a goal that’s being set to indicate policy direction or policy enthusiasm or intensity,” he said.

MacDuffie believes there is ample evidence that car manufacturers are willing to work with the administration to meet this goal, but consumers may need more convincing.

“The demand side, of course, is what we know is the toughest,” he said. “Consumer reluctance, charging infrastructure — that’s where the automakers are saying we need a lot of government support for this, maybe subsidies for purchases, and certainly help getting charging infrastructure into difficult places. We’ll see how much support for EVs comes out of what Congress is doing right now.”

Listen to the full interview and read the summary on Knowledge@Wharton.