January 1, 2024
The market for used electric vehicles (EVs) is plummeting. Problems started in China but have spread to Europe and the US. A subsidy-fueled boom helped build China into an electric-car giant but left weed-infested lots across the nation brimming with unwanted battery-powered vehicles. The Chinese government forced people to buy the inefficient vehicles and Biden is attempting the same in the US. EVs are not selling because consumers just don’t want them, despite massive subsidies to both the manufacturers and consumers. But capitalism is being blamed.
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