International Topic: EV Subsidies
“Tax Credits apply to vehicles made within a set of rules, and subsidies apply to any friends who ask nicely. (Not you, China!)” -A White House spokesperson, probably.
5 Minutes of Fresh Perspective
Reading the daily news doesn't have to suck. Get the email that will make you laugh and keep you informed...for free!
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
The US and EU are talking about EVs again. We told them to just leave it alone and take a walk, but they ignored us. Let's take a look.
A commission on the EU side has opened talks with the US about EV subsidies and other aspects of the Inflation Reduction Act and its impact on the European trade bloc.
And that's about it. The news is that the EU called the US, and so far, the US has left them on *Read*.
Subsidy talk in other markets is similarly shifting.
- Indonesia plans subsidies for each EV (up to $5000) or hybrid purchased. A separate subsidy exists for people converting to electric motorbikes.
- After more than a decade, China ended EV subsidies that accounted for 3%-6% of EV costs on December 31. As a result, some automakers use discounts to maintain market share in the county, while others raise prices on select models to absorb the cost.
- Canada is happy to be in North America but looking for ways to stay competitive as the Inflation Reduction Act makes waves in the green energy sector Canada has focused on for years.
So yeah, everybody is trying to catch an electric train in motion, and the US just took its foot off the brake. It's a lousy metaphor, but we stand by it.