I would add its just unrealistic. Right now the percentage of EV sales in NY is 1.5%. I recently bought a car and would have loved an EV, but there was nothing competitive on the market. I needed a large car (3 row) and pretty much no EVs exist in that market. EV SUVs cost a lot more too. They all mostly start at 40k+, compared to the top selling SUVs (e.g.RAV4, CR-V, Rouge), they start at 25-30k.
Plus, there are practically no used EVs on the market and you have to worry about charging. The car companies also have very limited availability for EVs so you can't even necessarily buy one. This makes sense because most are being sold at a big loss:
> In fact, these vehicles often cost $12,000 more to produce than comparable vehicles powered by internal-combustion engines (ICEs) in the small- to midsize-car segment and the small-utility-vehicle segment (Exhibit 1).
The car companies haven't exactly figured out what to do about EVs and are selling a few half-baked products at a loss just for show, but its not sustainable at these price levels. I'll be fine, sure I don't want to pay 20-30k more for a car, but I can eat the cost if I have to. But a lot of people will be screwed
https://evadoption.com/ev-market-share/ev-market-share-state...
https://www.newsweek.com/best-selling-suvs-us-2021-1607192
https://www.mckinsey.com/industries/automotive-and-assembly/...
Plus, there are practically no used EVs on the market and you have to worry about charging. The car companies also have very limited availability for EVs so you can't even necessarily buy one. This makes sense because most are being sold at a big loss:
> In fact, these vehicles often cost $12,000 more to produce than comparable vehicles powered by internal-combustion engines (ICEs) in the small- to midsize-car segment and the small-utility-vehicle segment (Exhibit 1).
The car companies haven't exactly figured out what to do about EVs and are selling a few half-baked products at a loss just for show, but its not sustainable at these price levels. I'll be fine, sure I don't want to pay 20-30k more for a car, but I can eat the cost if I have to. But a lot of people will be screwed
https://evadoption.com/ev-market-share/ev-market-share-state...
https://www.newsweek.com/best-selling-suvs-us-2021-1607192
https://www.mckinsey.com/industries/automotive-and-assembly/...