There is an emergence of information over Joe Biden’s ideas on the environment. These ideas involve substantial pushing for electric trucks and vehicles. A report by car and drive says that the program has received financial support. The funding will enable Americans to market their gas topers and exchange them with electric vehicles. However, the condition is that the financing will only be available to the United States manufactured vehicles.
There is a high probability that Tesla is the one that will benefit from this program. Volkswagen would also greatly benefit since it is transforming its section of the Chattanooga industry to manufacture vehicles on the basis of the MEB plan. Even if companies like KIA and Hyundai produce aggressive electric cars, they are likely not to benefit from the program.
However, the idea seems to be like an imitative proposal that Senator Schumer Chuck had come up with in October last year. According to Chuck’s plan, $454 billion would be given out to motivate Americans to market in their gas-powered vehicles and purchase an electric car or hybrid for the coming ten years. Other vehicles that would benefit from the Schemer’s proposal are hydrogen power cells. All the self-charging electric vehicles will not be included in the program.
Chuck’s proposal the basis for communal fairness. This means that substantial incentives would be given to low-income buyers. Also, people who are buying old electric vehicles will get more incentives. However, it is not clear if the incentives would be in the form of income tax credits or paid while buying. By the end of 2030, the program aims at replacing more than 63 million standard vehicles with electric cars.
Biden’s plan, the same as Chuck’s proposal, comprises funds that will help in installing 500 million electric vehicle chargers. These chargers will be installed all over America. Vehicle manufacturing factories would also receive monetary assistance for transformation into electric car manufacturing.
Biden says that all the funds used will be a form of a considerable investment that will help in the creation of many jobs in the automotive industry. This means that it is not an expense at all and will enable America to regain its popularity in the automotive industry worldwide.
Biden’s plan has received support from the UAW just as various stakeholders supported Chuck’s proposal. According to the Biden proposal, all the US government cars would be replaced with electric trucks and vehicles. He says that this would gradually reduce maintenance and fuel costs. Also, it will help the car manufacturers to shift in making electric vehicles.