On Electric Cars, the U.S. Is Stuck in the Slow Lane

by Oscar Reyes – While Europe races toward electric vehicles, U.S. automakers are actually trying to make cars less efficient. The French government recently announced a plan to ban sales of new gas-powered cars by 2040. Not to be outdone, the UK government is now rolling out a similar plan of its own. These plans sound shockingly radical, but in fact many analysts think those transitions will happen anyway. For instance, the Dutch bank ING recently predicted that all the cars sold in Europe will be electric by 2030. More conservative estimates put it at 2050. Either way, most experts now see this change on the horizon. Electric vehicles — or EVs — are already more efficient than their gas-powered counterparts, and could soon become cheaper too. High-end models already outperform conventional engines for speed and acceleration. Yet potential buyers will continue to be wary as long as the range of batteries remains small, and the network of...

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