Here is a great article on the OP's subject:
Ludicrous’: Buttigieg Watches As Manchin Throws Cold Water On Biden’s EV Dreams
A snip:
Quote:
Manchin expressed concerns that the administration was focusing too much on electric vehicle incentives rather than shoring up the domestic battery and critical mineral supply chains, during a Senate Appropriations Committee hearing Transportation Secretary Pete Buttigieg on Thursday. He noted that China, which controls the vast majority of global critical mineral mining and refining needed for renewable energy tech, could use its leverage over the U.S. for geopolitical reasons.
“There’s a waiting list for EVs right now with the fuel price at $4,” Manchin told Buttigieg. “But they still want us to throw $5,000 or $7,000 or $12,000 credit to buy an electric vehicle.”
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Also:
Ford Reports Devastating Losses Thanks To Electric Vehicle Gamble
And a snip from that article:
Quote:
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Rivian has posted massive profit losses of its own and its share price has plummeted nearly 70% over the last six months. The value of Ford’s roughly 102 million Rivian shares has fallen from about $17.5 billion to $3.2 billion since November.
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I've said before that I believe that electric final drive is probably the answer of the future, but we may be "too soon" pushing the tech.