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Axios

Environment

U.S. playing catch-up on EVs

Joe Biden Hyundai IEA United States China Europe

Data: Global EV Outlook 2022; Chart: Jared Whalen/Axios

President Biden took a victory lap in South Korea over Hyundai's big U.S. new electric vehicle investments, but fresh analysis shows how far the U.S. lags behind in the global EV supply chain competition.

Driving the news: "Electric vehicles are good for our climate goals, but they’re also good for jobs, and they’re good for business," Biden said in Seoul Sunday alongside Hyundai chairman Euisun Chung.

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