via YAHOO:
Joe Biden’s race to embrace electric vehicles risks overwhelming US charging infrastructure and creating disastrous supply shortages, two of the world’s biggest carmakers have said.
Toyota and Vauxhall owner Stellantis accused the President of being “overly optimistic” in his push for a rule that would require two thirds of new vehicle sales to be electric by 2032.
The companies were quick to point out that they support a move to low-emissions vehicles and electric cars in particular but warned that they need customers to buy them and that costs are still too high for the mass market.
The cars typically cost about £10,000 more than comparable petrol-burning versions, with many drivers able to recoup the difference through cheaper charging over the life of the vehicle.
‘We’re Still in Terrible Shape,’ Economist Says After Inflation Report Release
The food index increased 0.1%, the energy index increased 0.6%, the gasoline (all types) index increased 1%, and the shelter index increased 0.4%, while the fuel oil index decreased 0.4%, the utility (piped) gas service index decreased 1.7%, and the used cars and trucks index decreased 0.5%, according to the U.S. Bureau of Labor Statistics.
Alfredo Ortiz, chief executive officer and president of the Job Creators Network, also reacted to the inflation report.
“The price of goods and services has risen by more than 16% over the course of President Biden’s term. This destruction in the dollar’s value has reduced Americans’ real wages and living standards,” Ortiz said in a written statement. “For some goods and services, such as food, prices are up more than 20%.”
Rate of Inflation Drops; Prices Still Increase 50% Above Fed’s Target Inflation Rate