Carmakers are watching carefully to see whether Donald Trump or Kamala Harris wins the election in November—and trying to glean the implications for electric vehicles. It's a critical time for the automotive industry. In 2023, EV sales grew by 50% year over year in the U.S., reaching 8% of the total market. Through the first half of 2024, EV sales are up roughly 10% year over year. Sales are increasing faster than those for traditional gasoline cars. But that may either accelerate or slow considerably depending on who’s our next president.
It won’t be the first time a leader has an impact on technology, fuel, and manufacturing. Way back before this country was a country—in 1744—Benjamin Franklin expressed concern that the U.S. was running out of wood as a fuel, writing: “Wood, our common Fewel, which within these 100 years might be had at every Man’s Door, must now be fetch’d 100 miles to some towns.” The solution? Coal: abundant, more thermally efficient, but requiring a metal oven, which was rare at the time. Enter the makers of metal ovens.
