The US has a lot of "catching up to do" when it comes to EV production, President Joe Biden told reporters during a tour of electric bus-maker Proterra's facilities on Tuesday. Reuters reported on the president's comments as he tours the country to promote his proposed American Jobs Plan infrastructure legislation, which has a $2.25 trillion price tag attached to it.
"We ought to be the single most significant suppliers of electric buses and vehicles in the world before it's over," Biden said. "Right now, we're running way behind China." The president continues to peg the entire infrastructure bill as a downpayment of sorts for the country as his administration works to pivot the country toward climate-neutral sectors while tying in job creation. The White House did not immediately return a request for comment.
Biden's proposed legislation carves out $174 billion to boost American EV production and associated supply chains. The administration has also ordered a review of essential supply chains to make the country more competitive when it comes to material refinement for batteries and other essential EV components. The administration earmarked $100 billion in the bill for direct consumer rebates at the point of sale, which could slash thousands of dollars off the price of a new EV for car buyers.
China remains the largest auto market not only for new vehicles in general, but for what the country deems "new-energy vehicles," or