Ex-Chrysler CEO slams Biden’s EV mandate – says ‘you can’t force it down the throats’ of American consumers.

To facilitate the transition of the automotive industry towards electric carsThe Biden administration has launched various initiatives aimed at promoting EV adoption.

However, Bob Nardelli, the former CEO of Chrysler, is skeptical about the role of the government in this transition.

During the interview and Fox Business, Nardelli discussed the challenges facing the US EV industry.

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“There are 64,000 EV charging stations compared to 196,000 petrol stations,” he said.

Nardelli also highlighted the reliability issues associated with EV charging stations compared to traditional gasoline pumps.

“This is just another issue, you know, another issue, another debate of this administration, trying to create a revolution versus allowing reform,” he said. “You can’t force it down consumers’ throats.”

Founders ‘won’t make it’

With the increasing number of EVs hitting America’s roads, EV stocks have gained a lot of interest. However, Nardelli has noted that recent developments in this area have not fully lived up to expectations.

“Tesla missed the numbers in the first quarter,” he said.

In Q1 of 2024, Tesla in the hands 386,810 EVs, representing a decrease of 8.5% from the same quarter last year. This number was also significantly lower than Wall Street expectations, which had predicted the delivery of 454,200 vehicles.

Nardelli also called out Chinese EV maker BYD, saying, “BYD missed it the most. They were only 301,000.”

BYD to be sold 300,114 EVs in Q1 2024, down from its record-breaking quarterly peak of 526,409 EVs sold in the previous three months.

As for emerging players in the industry, Nardelli is not optimistic.

“Rivian lost $5.4 billion last year,” he said. “So they have one moment, these founders will not succeed.”

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Will regulations be reduced?

The Biden administration recently highlighted the great progress made in the EV industry.

“Since the President took office, EV sales have more than quadrupled, with more than four and a half million EVs on the road,” the White House said in a statement. press release.

However, the government’s regulatory position may soon diminish.

New York Times information that the Biden administration plans to slow down the limits on back-pipe production. The move is intended as a concession to automakers and labor unions, the unnamed sources said.

“The speed change is in response to car manufacturers who say that more time is needed to build a national network of charging stations and reduce the costs of electric cars, and to trade unions that want more time to try to integrate new electric car plants. is opening across the country, especially in the South,” the news report read.

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