With consumer demand for EVs softening as of late, Ford has delayed some of its investments into that particular area and delayed the launch of select models as it pivots to cheaper EVs, all while acknowledging that those same consumers will ultimately set the pace of EV adoption. Meanwhile, in the political realm, President Joe Biden is working to prevent cheaper Chinese EVs from upsetting the market by significantly raising tariffs, though he also recently softened proposed fuel economy standards amid criticism that those proposals were unrealistic. Biden’s opponent in the upcoming election – Donald Trump – has long been a critic of both the United Auto Workers (UAW) union and EVs in general, and now, the former president has reportedly told oil executives that he plans to roll back EV mandates if he wins the election, according to The New York Times.
These comments reportedly stemmed from a recent meeting between Donald Trump and a group of lobbyists and oil company executives that took place at the former president’s Mar-a-Lago resort last month. Organized by oil billionaire Harold Hamm, this meeting reportedly centered around Trump’s desire to secure $1 billion in donations from that industry, and in return, he reportedly told the group that he plans to roll back mandates that would negatively impact the oil business.
“Look, you want me to win. You might not even like me, but your other choice is four more years of these guys,” Trump reportedly told attendees, referring to the Biden administration. “The uniform sentiment of guys in the business community is ‘We don’t want four more years of Team Biden.'”
Karoline Leavitt, a spokeswoman for the Trump campaign, responded to a request for comment by saying that Biden is controlled “by environmental extremists who are trying to implement the most radical energy agenda in history and force Americans to purchase electric vehicles they can’t afford,” adding that Trump is “supported by people who share his vision of American energy dominance to protect our national security and bring down the cost of living for all Americans.”
We’ll have more on the upcoming election’s impacts on the automotive industry soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.
