Limits ‘Reasonable’
John Bozzella, chief executive officer of the Alliance for Automotive Innovation, said the Senate’s proposed price caps “are reasonable” and that carmakers are working to introduce more affordable EVs now that battery technology is improving. The battery and mineral requirements, however, should be phased in, he said.
“We see significant entries coming at every price point that will provide an opportunity for Americans at every income level” to experience EVs, said Bozzella, whose alliance represents companies such as Ford Motor Co., General Motors Co., Stellantis NV, Honda Motor Co. and Toyota Motor Corp. “Average transaction prices are high right now, but that’s partly due to supply chain issues.”
Price has been the No. 1 obstacle to EV adoption cited by consumers in Cox Automotive’s research, Krebs said. “It had risen more as an obstacle since our study a couple years earlier.”
--With assistance from Ari Natter.
This article was provided by Bloomberg News.