Rich world’s drive to electric cars gets us nowhere
The electric car industry is elated with an incoming Biden administration because it promises to extend and increase electric car subsidies to fix climate change.
Similarly, leaders across the rich world promise lavish carrots along with sticks to outlaw petrol cars. This week, British Prime Minister Boris Johnson announced a ban on the sale of new petrol and diesel cars from 2030. Unfortunately, electric cars will achieve only tiny emissions savings at a very high price.
Electric cars are certainly fun, but almost everywhere cost more across their lifetime than their petrol counterparts. That is why large subsidies are needed. And consumers are still anxious because of the short range and long recharging times.