American consumers are showing a preference for traditional gas-powered cars over electric vehicles (EVs), leading to a surplus of unsold EVs at dealerships.
This trend is causing auto companies to reevaluate their investment plans.
Factors contributing to the slow adoption of EVs include the lack of charging stations, concerns about reliability, and the higher cost of EVs compared to gas-powered cars. (Trending: Could Taylor Swift Save Biden In 2024?)
The average cost of an EV is nearly $52,000, while gas-powered cars cost less than $45,000.
Additionally, EVs are primarily being purchased in a few states and cities.
The Biden administration’s significant investments in EVs, including the allocation of $7.5 billion for electric chargers, have not yet yielded results, with no chargers built so far.
Car dealers and consumer surveys have highlighted the lack of demand and higher maintenance issues with EVs compared to traditional cars.
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