Comment on Biden Administration Is Said to Slow Early Stage of Shift to Electric Cars
cyd@lemmy.world 8 months agoThese complaints about EVs being too expensive are way out of date, now that China is pumping out hordes of cheap EVs that consumers like.
Even if the US doesn’t want to let in Chinese auto imports, the question remains: why are Chinese automakers able to bring down prices, but not US automakers? You can point to Chinese government subsidies, but the US also does industrial policy these days. One of Biden’s favourite talking points is how much money his government is putting into supporting US green manufacturing through the IRA.
dragontamer@lemmy.world 8 months ago
Because their economy is entering a deflationary spiral built off of 25%+ youth unemployment.
Yes, unemployment lowers labor costs severely. That’s… not a good thing or a strategy we’d want to replicate.