The WSJ says President elect Trump will pull the plug on the EV mandate from day 1. The Environmental Protection Agency's EV mandate has unrealistic targets of shifting at least 54% of production to EVs and 16% to hybrids by 2032, which would require closing of existing plants as soon as next year. Following James' recent note (attached) on the adoption of EV's, I listened to a presentation by Mark P Mills from Hillsdale College of the economic and social costs - (loss of freedom) - of the EV mandates, my brief notes for which I have also attached.

They highlight, for example, that whilst the drive train or motor may be a lot simpler than an IC engine, the battery or "fuel tank" has thousands of parts, thousands of welds, a cooling system, a structural system, power electronics, and safety systems. It's a very complex electrochemical machine that also wears out, is difficult to make. It is not simpler than an IC vehicle, just the complexity is in a different place. EV vehicles are as labour intensive as IC vehicles, although in a slightly different areas and skills. The EV supply chain overall is more labour intensive than for an IC, and if you include the upstream supply in mining etc, it results in 20% more labour than an IC car, with much of this upstream labour in