EV's

Federal incentives in the Inflation Reduction Act are encouraging the building of EV and battery plants. Federal incentives help drive $52 billion of investments in 17 battery production facilities. A year has passed since Hyundai Motor Group broke ground on the $7.6 billion vehicle and battery plant, the South Korean automaker’s first U.S. factory dedicated to producing EVs. Munoz, Hyundai’s president and global chief operating officer, said last month that the company has accelerated construction to take advantage of federal incentives that reward domestic production of EVs. He said it’s possible the plant could open before the end of next year. Contrast that with news from the auto industry. Toyota cut its local EV sales forecast by 40% for 2024. Volkswagen cut its EV production levels and canceled plans for new $2 billion factory. GM is abandoning its goal of building 400,000 EV's from 2022 to mid 2024 Ford is cutting production of its F-150 EV pickup in half next year. Honda says, after extensive studies and analysis, we have come to a mutual decision to discontinue the EV program Add to that the fact than 4,000 auto dealers sent a message to Biden saying they cannot sell the EV's they have on the lot. You have to wonder what is going on.