House Democrats to push electric vehicle legislation
- A group of 17 U.S. House Democrats are introducing legislation as early as today that would award $6B to the U.S. Postal Service to buy tens of thousands of additional electric delivery vehicles.
- The bill would require at least 75% of the new USPS fleet be electric or zero-emission vehicles, according to Reuters. The legislation's backers include Representative Peter DeFazio, who chairs the Transportation and Infrastructure Committee, and Representative Carolyn Maloney, who chairs the Oversight and Reform committee that oversees USPS.
- The bill would also require no less than 50% of medium and heavy-duty vehicle purchases be electric or zero-emission through 2029 and all new USPS vehicles be zero-emission after January 2040.
- Legislation covering electric vehicles has been widely anticipated since Joe Biden won the U.S. presidency and control of the Senate flipped to control of the Democrats. Most analysts expect the major green push to arrive after COVID-19 stimulus is disbursed and funding for ramped up vaccinations is set.
- The development is seen as positive for Workhorse Group (WKHS +8.7%) and Oshkosh (OSK +0.2%).
- EV watch: Lordstown Motors (RIDE +0.8%), GreenPower Motor (GP +1.5%), Nikola (NKLA +0.5%), FuelCell Energy (FCEL +0.9%), Plug Power (PLUG +1.1%), Tesla (TSLA -2.3%), Fisker (FSR +2.2%), Hyliion Holdings (HYLN +1.2%) and XL Fleet (XL -1.4%).
- Interestingly, both Ford (F +3.8%) and General Motors (GM +3.3%) are strong on the day as investors weigh electric upside for the Detroit legacy players.
- A question for investors is how much of the EV legislation potential is already baked into some of the high valuations in the EV sector?
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Comments (483)
Headlines should read: House democrats hand over tax payer money to their cronies in the EV industry and China
@Davewmart " Yeah, if you don't understand the rock solid science showing AGW "AGW is proofed wrong the new theme is climate change...and thats 100% proof climate change will be right at any time.
@kata "So what is the cost of the electricity and where exactly are you going to get it from?"It varies by location and generators/inverters. Next.
This article proposes that “investors” determine SP. Investors are weighing the value of Ford and GM’s conversion away from the ICE. Interesting.
$PLUG has not delivered any EV FCs yet. Just saying. This company has never had a GAAP profit.
@Tag Team "the issue is the government’s desire to pick winners and losers. That is why the discussion is negative by so many people. EV and all green industry can not stand without government corruption."What government corruption? So far, the programs for subsidies for BEVs have been paid directly to the buyers (via tax reductions), not to the BEV producers.The cap and trade programs for ZEVs was a Republican idea so that it didn't have to come out of the tax payer pocket.Want to explain what you are actually talking about because we've hashed this out for about 8 years here and nobody that is a regular buys that nonsense.
Great timing for Pelosi as her husband bought $1 million of Tesla stock- insider trading that would send most people to jail is OK for politicians to get rich and they do.
Get ready. It’s coming. PV + ST + EV = free fuel for life and NO MORE ELECTRIC BILLS. more security against utility blackouts, ownership of something instead of paying for a service, inflation hedge, cleaner planter, and tax free savings. Win win win.
@solucky Even with a house nearly perfectly situated for solar-San Diego CA, roof centerline runs nearly due north/south, lots of surface area and a neighborhood we know everyone and most have solar so panels aren't an "eyesore", we'd spend 150% of our electrical bill in subsidized panel payments to charge my Ford Fusion Energi let alone a Tesla or full BEV battery. The Green New Deal folks infatuation with EVs is both NIMBY-ism with plants and solar arrays/wind farms somewhere else and picking winners that happen to be their donors and friends.
@wired4sales DITTO, good idea, "buy the people that sell the picks and shovels." and buy the companies that mine the minerals and create the materials needed to build EV batteries.Components needed to make an EV battery: cobalt, nickel, graphite, copper, steel, aluminum and plastic sources. "A lithium EV battery weighs about 1,000 pounds.
While there are dozens of variations, such a battery
typically contains about 25 pounds of lithium, 30
pounds of cobalt, 60 pounds of nickel, 110 pounds of
graphite, 90 pounds of copper, about 400 pounds of
steel, aluminum, and various plastic components.In total then, acquiring just these five elements to
produce the 1,000-pound EV battery requires mining
about 90,000 pounds of ore. And this will require
digging and moving between 200,000 - 1,500,000 pounds
of earth. This totals a rough average of more
than 500,000 pounds of mineral ore per battery."media4.manhattan-institute.org/... (page 7)
While there are dozens of variations, such a battery
typically contains about 25 pounds of lithium, 30
pounds of cobalt, 60 pounds of nickel, 110 pounds of
graphite, 90 pounds of copper, about 400 pounds of
steel, aluminum, and various plastic components.In total then, acquiring just these five elements to
produce the 1,000-pound EV battery requires mining
about 90,000 pounds of ore. And this will require
digging and moving between 200,000 - 1,500,000 pounds
of earth. This totals a rough average of more
than 500,000 pounds of mineral ore per battery."media4.manhattan-institute.org/... (page 7)
@wired4sales "The major push into electric vehicles will require an extreme upgrade to the power grid"Not true: There are several mitigating factors: 1) Solar increasingly is supplying offsets to EV consumption -- I do that myself with my Tesla M3. 2) EV's often charge at night when utilities often need to "shed" electricity. 3) The electric grid will evolve, as it always has, to meet different consumption patterns
@wired4sales "The major push into electric vehicles will require an extreme upgrade to the power grid."According to the Electric Power institute, not for about 10 years.
Long $BATT as per this kind of 'stuff'. Don't fight that certain European Group that runs your/our counties. Go with the flow. Pun intended. Dale
@Dale Roberts Sorry make that run our "countries". Though they do run your county too, :) Dale
Over the years posting here I have been a tad sceptical about long range BEVs.But that is for private motorists, where the return in reduced pollution and GHG minimisation is lousy compared to a hybrid considering the immense amounts chucked at them in subsidies and freeby tax breaks for the well to do.That is all a very different matter to delivery services, where the nature of their stop start routes and consistently high mileages mean that taking an ICE off the road yields large benefits in air quality, aside from GHG etc.So IMO this looks like good value for money, and is a good application of the technology.Fuel cells would be good for longer routes, and are even cleaner, as they have to purify the air to supply the fuel cell, so that they leave it cleaner than before they passed by, whilst BEVs still create tire and some brake dust, and road dust.
@ActivBoisson yet just another myth that EV v are more dirt than an ICE. you may want to get your head out of the sane and look
Around. Renewables are the least expensive form of new power generation period. The Fred gets greener EVERY dat as utilities and home owners install more and more renewables. Look around. You see more and more wind farms and solar farms and on site solar. Tesla has sold more than 100,000 Powerwalls. We are just getting going. Now that Trump is gone who was anti renewables we are finally moving forward towards a much cleaner energy future. zero emissions is NOT a fallacy especially when your electricity come from a PV array on your roof or when the grids electricity is from renewables. Advantage renewables!!!
Around. Renewables are the least expensive form of new power generation period. The Fred gets greener EVERY dat as utilities and home owners install more and more renewables. Look around. You see more and more wind farms and solar farms and on site solar. Tesla has sold more than 100,000 Powerwalls. We are just getting going. Now that Trump is gone who was anti renewables we are finally moving forward towards a much cleaner energy future. zero emissions is NOT a fallacy especially when your electricity come from a PV array on your roof or when the grids electricity is from renewables. Advantage renewables!!!
@Phil Dumfee answe: none. To expensive, to long to build, inherent issues like radioactive waste. And The more things change in the nuclear world the more they remain the same. The best nuclear power plant is the SUN. It is more reliable than any power plant that humans have built and will last millions of times longer. And the energy is delivered free of charge to you each and every day. All you need to do is build the equipment to harness all that energy. Problem solved.