Joe Biden got some bad news about electric vehicles that he’s going to hate

Joe Biden is making a big bet that electric vehicles are the future.

But the public has different ideas.

And Joe Biden got some bad news about electric vehicles that he’s going to hate.

Consumers rejecting Biden’s electric vehicle agenda 

President Joe Biden is trying to lure potential buyers to electric vehicles with a $7,500 tax credit.

But a new report found that consumers aren’t interested in going electric.

The J.D. Power 2024 U.S. Electric Vehicle Consideration Study found that consumer interest in electric vehicles dropped from last year.

Only 24% surveyed claimed they were “very likely” to buy an electric vehicle, down 2% from the year before.

The biggest hangup deterring potential electric vehicle buyers was the lack of public charging stations.

52% of consumers who said they were “somewhat unlikely” or “very unlikely” to buy an electric vehicle cited the lack of charging stations.

J.D. Power said that finding could be “a sign that concerns about public charging infrastructure are only getting worse.”

Biden set a goal of having 500,000 public charging stations across the country by 2030, up from about 160,000 currently.

The 2021 bipartisan infrastructure bill funneled $7.5 billion to build more public charging stations, but only seven nationally have been built in the two-plus years since the money was made available.

And not every public charging station is compatible with every electric vehicle model.

Drivers looking to make a longer trip are rolling the dice with the current charging infrastructure. 

Other obstacles cited by consumers about switching to an electric vehicle were a lack of range, charging time, and the lack of charging stations at work or home.

Only 24% of drivers who had a commute of 46 to 60 minutes would be “very likely” to consider an electric vehicle.

Consumers who were shopping for a second vehicle in their household were more likely to consider one.

High prices are a deterrent to potential buyers of electric vehicles

Gen Z and Gen Y were the two age groups most likely to consider buying an electric vehicle, according to the J.D. Power survey.

But they were also the most sensitive to their high prices.

The number of “very likely” buyers in Gen Z and Gen Y dropped from last year.

“The lack of affordable EV models is affecting the two youngest buyer cohorts, Gen Z and Gen Y, with ‘very likely’ consideration down 2 and 5 percentage points year over year, respectively,” J.D. Power said.

Even in the most electric vehicle-friendly demographics, interest is dropping.

“As the industry inches toward mass consumer adoption, the main roadblocks to getting consumers behind the wheel of an EV are the continued shortage of affordable vehicles, charging concerns, and a lack of knowledge regarding the EV ownership proposition, including incentives,” J.D. Power executive director of EV intelligence Stewart Stropp said.

And there’s no indication that a lack of affordability or public charging infrastructure will be solved any time soon.

Joe Biden’s electric vehicle revolution is going to be stuck in neutral until consumers’ concerns with them are addressed.

*Renewed Right Official Polling*

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