Electric Vehicles: A Bursting Bubble

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【Summary】The US electric vehicle bubble is deflating, highlighting the failure of government-backed industries. Voters are skeptical, and the collapse serves as a lesson on the limitations of government intervention.

FutureCar Staff Aug 23, 2023 6:29 AM PT

One problem that the U.S. is facing is that voters are not convinced by the government's attempts to imitate China's economic model. It is ironic that this is happening at a time when the U.S.'s industrial policy is falling apart. A prime example of this is the collapsing electric-vehicle bubble, which serves as a lesson on how industries built by the government can often fail because of the government's involvement.