Pete Buttigieg Compares People Not Ready For EV Adoption To Cell Phone Skeptics: 'I Feel Like It's The 2000s'
Portfolio Pulse from Chris Katje
U.S. Secretary of Transportation Pete Buttigieg emphasized the importance of EV adoption in the U.S., comparing skeptics to those who doubted the transition from landlines to cell phones. Despite recent job cuts at Tesla, Buttigieg highlighted the increasing competition in the EV market, including from Chinese companies, and reiterated the growth in EV sales each year in the U.S. He stressed the need for the U.S. to not fall behind China in EV production and mentioned government support for EV affordability through tax credits. EV sales in the U.S. reached 1.2 million units in 2023, a 46.3% increase from the previous year, with Tesla leading the market.
April 17, 2024 | 8:28 pm
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Tesla, Inc. leads the U.S. EV market in 2023 with 654,888 units sold, a 25.4% increase from the previous year, despite facing job cuts and increased competition, particularly from China.
Tesla's significant sales growth and market leadership in the U.S. EV sector, despite recent job cuts and increased competition, indicate a strong market position and consumer demand for its products. The emphasis on EV adoption and government support for affordability could further bolster Tesla's market share and sales, positively impacting its stock price in the short term.
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