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5/18/2021, 8:11 PM (Source: TeleTrader)
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Biden: Can't let China lead R&D in EV industry

United States President Joe Biden pledged on Tuesday that his administration "won't let" China lead research and development in the electric car industry.

"They think they're gonna win. I got news for them. They will not win this race. We cannot let them," Biden said during his visit to the Ford Rouge Electric Vehicle Center. "Can't let that be sustained," the president concluded speaking about China's domination in the electric vehicle market a day ahead of the announcement of Ford's electric F-150 pickup truck.

Biden criticized the Trump administration insisting that it "rolled back the standards we set. They let the federal tax credit expire penalizing auto workers" for selling the most electric vehicles at the time, he noted, adding that the US should "never again be in a situation with semiconductor shortages."

Baha Breaking News (BBN) / ND