Electric-Vehicle Bubble Deflates

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【Summary】The US electric-vehicle bubble is deflating as government-backed industries often fail due to lack of support from voters.

FutureCar Staff Aug 22, 2023 9:29 AM PT

One problem that the U.S. is currently facing is that voters are not convinced by its attempts to imitate China's economic model. This irony is highlighted by the fact that the country's industrial policy is currently experiencing fractures. A prime example of this can be seen in the collapsing electric-vehicle bubble, which serves as a lesson in how industries built by the government can also fail because of government intervention.