The United States is experiencing renewed investment in gas-powered vehicles and internal combustion engine programs. General Motors announced a $4 billion investment in American gas-powered vehicle production, while federal moves have reduced green energy and EV incentives such as the EV tax credit. EV sales growth has slowed and some industry leaders have sought easing of phase-out timelines. Political actions including revoking incentives and blocking state phase-outs have supported combustion engines. A reprioritization of capital toward internal combustion was described as harmful for future generations and the U.S. auto industry, while reduced competition could advantage remaining EV manufacturers like Rivian and Tesla.
Rivian CEO RJ Scaringe never thought he would see the United States turn back to gas-powered vehicle expansion. Then it did. Combustion engines are once again on the rise. Recently, General Motors announced a $4 billion investment in American gas-powered vehicle production. Meanwhile, the US government moved to end many of its green energy and electric vehicle expansion programs and incentives, like the EV tax credit.
Speaking on the "InsideEVs" podcast, Scaringe said that the shift has perplexed him - and that it may give companies like Rivian one small advantage. Scaringe said he saw a "reprioritization of capital towards internal combustion," one that was "very bad for my kids and their kids, and very bad for the US auto industry." "Things I never thought would happen a year ago are happening now," Scaringe said, describing new engine programs and plants being announced.
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