Biden’s gift to Elon Musk and Tesla
for drivers and reduced maintenance for EVs, compared with gas-powered models. But manufacturers largely bear the costs up front, then pass on to consumers what they can through higher prices. That’s the tricky part for legacy automakers: financing the transition to electrics without racking up losses or too many sell recommendations on their stock.has been largely range-bound for years, with the exception of a modest run-up during the Covid rally, when monetary stimulus goosed the whole market.
Automakers seem sure to challenge the new proposal, saying they can’t shift to EVs that fast. So the final rule could be weaken that the proposal. There will probably also be litigation challenging the Biden administration’s authority to make such a big change—without Congressional legislation. The current Supreme Court, with a 6-3 conservative majority, has been much more skeptical of executive-branch authority than in the past, and there’s a chance they could block such dramatic changes.
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