California Throws Gasoline on the EV Market

Volkswagen's SUV

Yesterday, California Governor Gavin Newsom issued an executive order that calls for a ban on the sale of new gasoline-powered cars in the state by 2035.  

An announcement like this a few years ago might have resulted in legacy automakers shaking their treads, but in 2020’s red-hot electric vehicle market, they’re honking their approval.

  • Ford released a statement saying it’s “proud to stand with California,” noting it’s in the process of trying to “electrify our most iconic nameplates like the F-150 and the Mustang Mach E.”
  • Also yesterday, Volkswagen unveiled its new all-electric SUV for the U.S. market. The ID 4 (pictured above) costs just under $40,000, has a not-quite-Tesla range of 250 miles, and hopes to further cleanse consumers’ palates of the Dieselgate emission scandal of 2015. 

Bottom line: Gov. Newsom’s order, combined with the 15 countries that have adopted similar goals, shows that government regulation and automakers’ heavy EV investments are finally aligning. 

source : Morning Brew

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