It is unlikely that the US will reach its goal of 50% penetration of plug-in electric vehicles by the year 2030.
John D. Graham is a professor at Indiana University and author of The Global Rise of the Modern Plug.
A formal US submission under the Paris Accords of the United Nations Framework Convention on Climate Change was made by President Joe Biden in 2021. Light-duty passenger vehicles, such as cars and light trucks, make up the majority of transportation emissions in the United States.
The price of plug-in electric vehicles is one of the factors slowing the transition from internal combustion engines to zero emission vehicles.
A price point that is slowing customer acceptance is the price of PEVs. The price gap has been hampered by the high prices of raw materials used in making batteries and electric motor gear.
According to Graham and Eva Brungard, a research assistant at Indiana University who has held internships at both an electric vehicle manufacturer and trade association, the price of new PEVs and ICE vehicles in the US in 2021 will be around $45,000.
Only 17 of the total PEV models offer a base price below $46,000. Consumers don’t like the affordable models. The good news is that the number of affordable PEVs on the market are increasing, but the dominate US producer of electric vehicles,Tesla, doesn’t prioritize affordable models
Biden could not achieve his goals without more rapid penetration of plug-in vehicles into the affordable end of the market. Plug-in model commercialization in Europe provides hope for reaching the benchmarks, but it will require more favorable public policies to spur consumer acceptance.
The European Union has a comprehensive electric-vehicle policy similar to what the federal government needs.
There is a study in the journal.
The source is Indiana University.