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US Revs Up Electric Vehicle Race: Can Biden’s Plan Catch China and Dominate the Market?
In recent years, the structure of the U.S. automobile industry has undergone significant adjustments: the prevalence of new energy vehicles in the market has demonstrated a consistent upward trajectory, while the prominence of traditional energy vehicles (fuel-powered vehicles) has waned. Particularly within the last half-decade, the sales figures for new energy vehicles have surged. Presently, the new energy vehicles available in the market chiefly comprise three categories: pure electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles. Taking pure electric vehicles, constituting 70% of this spectrum, as an illustration, in 2019, these vehicles represented approximately 2% of new car sales in the United States. By the period spanning from January…