Updates In The EV Industry

Updates In The EV Industry: 4/9/2021

President Biden is pushing hard to get more Americans to buy EVs in order to combat global warming and encourage domestic manufacturing. The president is doing this with a $2 trillion infrastructure plan he is trying to sell to Congress that includes about $174 billion to boost EV sales and production. That's more than the president proposes spending on roads and bridges. The EV market is developing full speed ahead across the globe, with Europe and China being already ahead of the US in the race towards an all-electric future.

Peugeot Is Coming After Volkswagen And Tesla

As Stellantis NV STLA came to life as Fiat Chrysler NYSEFCAU and Groupe PSA joined forces, one of their subsidiary brands recently revealed a fully electric Peugeot 308 will arrive in 2023 to challenge Volkswagen's VWAGY multi-billion euro gamble to challenge Tesla Inc's TSLA  electric car dominance, the ID.3. Despite initial software problems, VW's first all-electric vehicle has been well received with the investment bank UBS declaring it to be a viable threat to Tesla, with a huge family of electric vehicles across the VW brand empire coming along in the near future.

The recent petit e-208, an all-electric version of the popular 208 hatchback made a great first impression with its blend of style, driving dynamics, gadgets and range. The e-208 is currently the quickest and most powerful 208 variant on sale and the upcoming e-308 could become Europe's best-looking hatchback. Specifics regarding e-308 are rather scarce, besides the fact that it is in the works and that it's going to debut in 2023.

The Future Of The U.S. EV Market Hangs In The Balance

President Biden has until Sunday to intervene in a dispute between two major South Korean battery producers over the fate of lithium-ion battery factories in Georgia. His decision carries major implications for plans of US automakers to produce new EVs over the coming years. The outcome threatens Biden's EV goals for the United States and the Democratic Party's fragile success in the key state.

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Disclosure: The author does not hold any position in the mentioned companies. 

 © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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