Insurers are being forced to write off many electric vehicles with only minor damage to battery packs, sending the batteries to scrap yards and hindering the climate benefits of going electric, Reuters reported.
Battery packs typically represent roughly half the cost of an electric vehicle, sometimes costing tens of thousands of dollars, often making it more economical for insurers to consider a car as totalled than replace a battery pack, according to Reuters. While many carmakers, including Ford and GM, told Reuters that their battery packs were repairable, many are unwilling to share key data with third-party insurers to help assess damage.
The environmental impact of electric cars may still be unknown, but leaders are growing concerned about the threat they pose to the financing of the nation’s highway system. Because freeways and bridges are funded, in large part, through federal and state taxes on gasoline and diesel fuel, the battery-powered future will test whether roads can just be paved with good intentions.
The Left has been tempting fate since January 2021—applying its nihilist medicine to America on the premise that such a rich patient can ride out any toxic shock.
Our elites assume that all our nation’s past violent protests, all its would-be revolutions, all its cultural upheavals, all its institutionalized lawlessness were predicated on one central truth—America’s central core is so strong, so rich, and so resilient that it can withstand almost any assault.
A rise in the number of electric vehicles rumbling off manufacturers’ assembly lines and hitting the state’s roads and highways has Michigan planning to build out a network of charging stations.
A state report predicts by 2030, hybrid or electric vehicles (EV) will represent 51% of all vehicle sales; 50% of vehicle production will have Level 2 autonomy or higher; and software will account for more than 50% of the value of a new vehicle.
In a highly orchestrated and publicized White House gathering this month, President Biden presented a detailed plan for the development of a U.S. fleet of clean, high-mileage electric automobiles that would reduce reliance on gasoline and generate thousands of good union jobs. It’s a new, government-encouraged, taxpayer-subsidized auto world. The plan calls for U.S. auto production to become 50% electric by 2030. Today, the electric share stands at a paltry 2%.
Top leaders from Ford, GM, and Stellantis (formerly Fiat-Chrysler), along with environmentalists and governors, were prominently invited to share in the announcement. Yet the absence of any non-union, America-located auto producers was glaring. There were no representatives from Hyundai, Nissan, or Toyota – companies that have long produced popular vehicles within our borders and recently expressed some support for Biden’s goal. Also striking was the absence of Tesla’s Elon Musk, the world’s acknowledged leader in the electric car and battery revolution. Tesla is an American firm, but it is not unionized.