Biden’s New EV Plan Gives the Green Light to Tesla’s Real Competition

by | Aug 6, 2021 | Uncategorized

The White House just dropped a bombshell on automakers on Thursday…

The Biden administration announced it’s signing a new executive order that will push sales of electric vehicles to 50% of all new vehicles sold by 2030.

On its surface, this might feel like a big win for EV makers like Tesla Inc. (Nasdaq: TSLA) — after all, it sells over two-thirds of all the EVs in the U.S. 

But when you start to dig into the numbers, the EV executive order is more likely the signal that Tesla’s real race has just started…

What Does the EV Executive Order Mean for Automakers?

Even with Tesla’s head start, the big question will be whether or not it’s going to be able to hold its ground when the big boys in Detroit and overseas get the ball rolling.

That’s going to be a tall order. All you have to do is look at 2020’s total vehicle production numbers to see what Tesla’s up against…

Source: Bloomberg, Seawolf Research

And the EV executive order just gave those big swingers marching orders to run Tesla CEO Elon Musk’s baby off the road.

Back in May, Ford Motor Co. (NYSE: F) announced the launch of an all-electric version of its F-series of pickup trucks — the most popular vehicle in the U.S. for 40 years running. 

Let’s just say the reaction has been positive.

During Ford’s earnings report, the automaker tallied more than 120,000 orders for the upcoming F-150 Lightning EV pickup. That figure alone would be the fifth-best sales quarter for Tesla.

Yes, due to material shortages — especially semiconductors — the question remains as to when those trucks will finally hit the road. Last I was told, my new Bronco might not show up until next year… 

But that’s the point — this is not an “if” but rather a “when” scenario…

And the president’s new EV executive order just supercharged the transition.

Check out the video below to find out what I have to say about the EV scene all the way back in May. Will Tesla stay on top, or is it just a matter of time before Ford and the rest of “The Big 3” leave Elon in the dust? Leave a comment and let me know what you think.

Don’t forget you can follow me @LanceIppolito on Twitter, Instagram and our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading — and printing money — on WealthPress.com!

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WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

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