U.S. President Joe Biden drove an electric Hummer SUV on 17 November, 2021, and sped off with a screeching of tires. The test drive, at a General Motors Co (GM.N) electric vehicle assembly plant in Detroit, the largest city in Michigan, was part of a nationwide White House tour pushing the $1 trillion infrastructure bill Biden signed into law earlier this week.
POTUS is using the event to make the case that the $7.5 billion in the latest infrastructure law for electric vehicle chargers will benefit America get “off the sidelines” on green-energy manufacturing. Currently, the U.S. market share of plug-in electric vehicle sales is one-third the size of the Chinese EV market. Electric vehicle sales estimated for just 1.8% of the U.S. new-vehicle market in 2020.
President of the United States Joe Biden toured a General Motors plant in Detroit on Wednesday afternoon to discuss electric vehicle charging stations. The President spoke at GM’s Factory ZERO, an all-electric assembly plant in Detroit and Hamtramck. Conversations on how the bipartisan infrastructure deal liberates the American people by accelerating the expansion of electric vehicle charging infrastructure and supply chains, reducing emissions to battle the climate crisis, enhancing air quality, and generating good-paying union jobs across the country- took the center stage.
"In the auto industry, Detroit's leading the world in electric vehicles," Joe Biden said. He did not mention Tesla Inc (TSLA.O), the U.S. automaker that accounts for nearly 80% of U.S. EV sales but is not unionized.
Joe Biden also lauded his proposed $2 trillion social safety net spending plan being debated in Washington. The bill contains up to $12,500 in tax credits for U.S.-made EVs, including a $4,500 credit for union-made vehicles. Biden stressed Wednesday the "Build Back Better" bill would be paid for by increasing taxes on corporations, turning to GM CEO Mary Barra to make his point that big companies are not paying as much as they should.
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