Trump Return Could Have Ramifications for EV-Gasoline Displacement: Part 2

While the initial rhetoric around EVs from Trump have demonstrated hostility to electrification, wider political calculations may lead to a lighter touch.

• 68% of swing state electoral college votes in November will come from states with high EV manufacturing investment.
• “If the GOP wants to declare war on the largest source of new manufacturing jobs in the most important electoral states, they do so at their peril,” Politico said.
• VP candidate JD Vance’s is gambling that boosting support for fossil fuels can offset any EV sector job losses.
• Yet, a less favourable US environment to EVs will leave it behind in a technological race against China, one in which it is already trailing.
• Moreover, domestic car companies are unlikely to abandon existing investments in the sector and will look to lobby for more assistance.
• Consequently, a Trump presidency may not be able to stem a decline in gasoline demand.