Automakers Pump the Brakes on Electric Dreams

Here’s the gist of what’s happening with a prayer…

Major automakers are pulling back on their electric vehicle (EV) ambitions due to stagnant consumer demand and increasing polarization around the issue. Ford and General Motors have paused their multi-billion dollar expansions in EV manufacturing, while Tesla is also reconsidering its plans for a new "Gigafactory" in Mexico. The retreat comes amid political divisions and economic disparities, as EVs become increasingly symbolic in a polarized nation. With President Biden's support making EVs a political target, and the median income of EV buyers significantly higher than that of general car buyers, the issue is exacerbating divisions on multiple fronts.

Heavenly Father, we pray for wisdom and unity in our approach to the challenges and opportunities posed by technological advancements like electric vehicles. May we not allow our differences to divide us, but rather strive to find common ground for the betterment of Your creation and the advancement of Your Kingdom. Guide us to make choices that reflect our ultimate loyalty to You, rather than to political or worldly factions. Amen.

Automakers Pump the Brakes on Electric Dreams

As electric vehicles (EVs) find themselves marooned in the doldrums of stagnant consumer demand, the world's leading automakers have decided to take their feet off the EV gas—ahem, accelerator. In a sudden, industry-wide move, car manufacturers are tapping the brakes on their ambitious EV plans. The collective shift resonates with an ice bucket challenge for global warming advocates. So, what’s putting the freeze on these electrifying ambitions?

Big Bucks with No Bang
Ford, General Motors, and others are hitting Ctrl-Z on their multi-billion dollar expansions. Ford recently announced the postponement of a whopping $12 billion in spending on EV manufacturing, including battery plants. EVs are stockpiling in dealership yards, as buyers hesitate over the higher sticker prices and rising interest rates on car loans. GM also put the brakes on the opening of its second electric truck plant and shelved a joint venture with Honda for budget-friendly EVs.

The Tesla Jigsaw
Even Tesla, the poster child of the EV revolution, is contemplating a pause on its upcoming “Gigafactory” in Mexico. Meanwhile, Hertz—the car rental giant sourcing most of its EV fleet from Tesla—is also slowing its electric transition. Elon Musk, not known for his conservative approach to anything, displayed a rare moment of caution, saying, “Tesla is an incredibly capable ship, but... even the best ship is still going to have tough times.”

Political Charge: High Voltage
Remember the days when choosing between diesel and petrol was your most political automotive decision? Those days are long gone. EVs have become the football in a political Super Bowl, with President Biden’s support making them a target for his potential 2024 rivals.  

Consumer demand is lagging, and not just because EVs are expensive. They've become divisive symbols in an increasingly polarized nation. Research indicates that for every five Democrats driving an EV, there are only two Republicans. This imbalance has ramifications that extend beyond the car lot. Whenever there are political ties to popular products, things get dicey. Just ask Target and Bud Lite, who just rode a terrifying rollercoaster of the politically divided nation. 

The Haves and the Have Nots
The economic disparity between EV owners and the rest of the car-buying public is widening. According to a survey by Strategic Vision, the median household income of new car buyers has risen to $122,000, significantly up from around $90,000. EV buyers are sitting even prettier, with a median income of $186,000. With a seismic shift in working-class spenders going right, this makes for a perfect storm. 

Reflection:
Now, you might wonder why a Christian should care about the ebbs and flows of the electric car market. Well, if you peer through the haze of battery acid and political posturing, you’ll see that, at its core, this is a story about division.

As believers, our first allegiance is not to red or blue, electric or gasoline, but to Christ. The Apostle Paul admonishes us in Ephesians 4:3 to "Make every effort to keep the unity of the Spirit through the bond of peace." How can we aim for unity if we’re drawn into worldly divisions—especially petty ones?

It’s okay to have preferences and opinions. They make us the unique individuals that God created us to be. However, these preferences should never divide us to the extent that they overshadow our primary mission: to love God and love others. We are, after all, commanded to be peacemakers (Matthew 5:9), not peddlers of division.

If you’re a Christian Republican who has been eyeing that EV for long commutes, don’t hold back just because Biden supports EVs. If you’re a Christian Democrat, don’t think for a second that buying an EV sticks it to Republicans. These divides and dichotomies often do more harm than good. As the debates over electric cars and their implications rage on, let us not forget that our highest calling is to rise above the fray. Our loyalty isn’t to any political camp, technological advance, or even to an automaker. Our loyalty is to Christ, righteous living, compassionate giving, and wise spending. Now, isn't that a vehicle we can all get on board with?

Thank you for joining us today on PRAY NEWS. It is our aim to be informed and transformed. We pray today you will proceed with hope, love, and determination to be a force for good.