Ben Kew writes for about the Biden administration’s recent decision to drop an especially outlandish climate policy.

Joe Biden is starting to ride back his committments on forcing the transition to electric vehicles (EVs).

According to a report from The New York Times, Biden’s administration is giving up on its targets for production of EVs in an apparent “concession” to automakers and labor unions.

The plan is also said to be an election ploy as Democrats fear losing the support of automakers and labor unions:

“Instead of essentially requiring automakers to rapidly ramp up sales of electric vehicles over the next few years, the administration would give car manufacturers more time, with a sharp increase in sales not required until after 2030, these people said. They asked to remain anonymous because the regulation has not been finalized. The administration plans to publish the final rule by early spring.”

“The change comes as President Biden faces intense crosswinds as he runs for re-election while trying to confront climate change.” …

… The Times notes that Biden’s concession comes after the Environmental Protection Agency (EPA) proposed a series of ludicrous targets for the EV market, which included a requirement that they must account for two-thirds of car sales by the year 2032. …

… The decision was taken mainly because consumer demand for EVs has been lower than expected, and various major car manufacturers announced disappointing results in their recent annual reports. 

Just last month, Ford announced losses of $4.7 billion on its EV range, more than the $4.5 billion the company predicted in the middle of last year. Meanwhile, companies that have not embraced the EV revolution have tended to overperform. Among them is Toyota, which recently reported a healthy $30 billion annual profit after focusing on hybrid vehicles instead.