low-cost models in the next three years. However, Palmer warned the path is “a minefield” of shifting regulations and sourcing rules, with success hinging on companies’ ability to meet evolving requirements. Gabe Klein , former executive director of the U.S. Joint Office of Energy and Transportation, said investor responses are “sort of all over the place.” “ We’re just in a state of uncertainty, and I think that is making it so you either take that long view and you say, “we’re going to count the government out as much as you can and we’re just going to move forward with our long-term plans.” Or you are putting things on hold, including investment, new factories.
“ It’s like when we moved from DVDs to streaming, there was a gap because broadband was slow, and you could say EV charging networks are the same sort of thing. But we didn’t go back to DVDs. We’re not going back to DVDs. It’s not happening.
Gabe Klein , Former Executive Director, U.S. Joint Office of Energy and Transportation
designed to work together, but recent policy rever- sals weakened that strategy. Palmer highlighted how other countries have leaned more on “sticks” than “carrots” to drive EV adoption. China’s costly licensing requirements for gas vehicles, Norway’s heavy taxes on gasoline cars, and similar measures in Europe created strong consumer incentives to go electric. Klein added that such policies reshape market behavior, while U.S. uncertainty pushes consumers and businesses away as the rest of the world advances. Both agreed that the movement from gas powered vehi- cles will change to electric someday, just maybe at a slower rate.
Long-term investors see the current adminis- tration’s changes as temporary and are moving forward, while others have paused or canceled major projects. The greater challenge, Klein argued, is uncertainty and some are exploring public-private partnerships to reduce reliance on grants. Klein noted that while EV adoption will continue, the U.S. risks falling behind China without cohe - sive industrial policy. “We’re not going to be Cuba where everybody’s driving a 1985 Chevy, we’re moving forward,” he declared. He emphasized that the CHIPS Act, Inflation Reduction Act, and Infrastructure Investment and Jobs Act had been
Gabe Klein , Former Executive Director, U.S. Joint Office of Energy and Transportation
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