Legacy automakers are pivoting to electric vehicles in response to expected strong consumer demand, tougher environmental regulations both from US states and foreign countries, and a push from Wall Street.
Electric vehicles have outpaced growth of traditional internal combustion engine (ICE) cars in recent years.
But automakers bucked Trump and agreed to meet tougher standards set by California rather than the Trump administration’s rules.
At a Detroit battery plant Wednesday, Trump said America didn’t need what the factory produced“This plant, we just walked through this plant and the electric vehicles are gonna put [automakers] out of business,” Trump said.
Trump’s proposals could undermine US companies’ EV investments and hand over control of an increasingly EV future to foreign manufacturers.
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