Automakers are applauding Joe Biden because they believe the president-elect will bring stability to the market.
Biden often refers to himself as “the Car Guy.” We know he loves his dark green vintage Corvette Stingray he received as a wedding gift from his dad. His father managed an auto dealership back in the day, which meant a teen-aged Biden often got to try out the new cool cars.
But it’s Biden’s economic platform that is attracting automakers’ interest. The president-elect wants to create 1 million new jobs in the industry.
Biden is big on electric vehicles. Back in July, Biden promised he’d create a Cash for Clunkers program. This program would encourage Americans to trade in old, inefficient vehicles for electric cars, trucks or SUVs. In return, Americans would receive cash or rebates. The idea is to create thousands of buyers while sidelining the gas guzzlers.
Biden also wants to replace the government’s fleet of vehicles with electric versions. This also would be a boon for the auto industry.
Automakers Ford, Rivian, Tesla, Lordstown and GM build electric vehicles at plants in the United States.
Joe Biden Wants to Restore Tighter Emission Restrictions
Biden says he wants to work with states to develop stricter emission standards. President Donald Trump did away with many of those regulations, saying they made cars too expensive.
The Trump rollbacks sparked legal fights, including with the state of California.
In addition, car-industry lobbyists told the Wall Street Journal that Biden probably won’t threaten tariffs, like Trump did, if they don’t agree to his proposals.
“There may be stricter policies, but they’ll be predictably strict,” said Kristin Dziczek, an economist at the Center for Automotive Research in Ann Arbor, Mich.
“We’re always hoping for one national standard,” said Chris Reynolds, who heads up Toyota’s U.S. manufacturing. “We’re also open to reasonable compromise in order to get there.”
Trump has threatened car executives via Twitter if they didn’t return jobs back to the United States. But Biden’s Twitter feed is insult free.
Automakers Congratulate Joe Biden
Automakers publicly have congratulated Biden for his win over Trump.
Ford issued a statement to “Car and Driver,” saying:
“We congratulate President-elect Biden and the newly and re-elected officials across all levels of government. It is our hope these leaders will focus on bringing the country together and pursue policies that encourage U.S. manufacturing, sustainability, and global economic stability.”
During a media call, Ken Morris, a GM vice president, spoke about Biden’s victory. He’s hoping Biden’s election will allow investment in electric vehicle research and manufacturing.
Morris said: “We’re looking forward to working with the Biden administration. … At the end of the day, climate change is a global concern.”
“And the best way to remove automobile emissions from the environmental equation is an all-electric zero-emissions future.”