There appears to be many lithium hodlers who are Trump supporters, irony because it is Biden who is pushing for EVs to replace ICE vehicles through the Inflation Reduction Act, which Trump is likely to water down or rip out in his administration.
They (hodlers) now contend that Trump won't do anything bad to derail EV growth in US. But read below. At the very best, he won't do any effort to promote EV growth, he would be glad that ICE vehicles continue to dominate for a 'drill baby drill' President.
Lithium hodlers who are pro-Trump would either have to hope that Trump does not get to be President or be prepared to face additional macro (this time governmental) headwinds to an already beleaguered EV industry and the lithium stocks they hold/
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Presumptive GOP presidential nominee Donald Trump has made bashing EVs a cornerstone of his campaign, effectively turning them into culture war fodder in an election year. Meanwhile, a fossil fuel industry group is pouring millions of dollars in ads in swing states tying Democratic senators to Biden’s EV push.
Trump has vowed to roll back Biden’s electric vehicle efforts and warned “you’re not going to be able to sell those cars” if he becomes president.
Biden required automakers to ramp up sales of EVs while slashing carbon emissions from gasoline-powered models, which account for about one-fifth of America’s contribution to global warming, in tough new emissions standards. Automakers will not need to dramatically boost EVs sales until after 2030, a concession to car manufacturers who worried about a faster timeline initially proposed by Biden.
Trump has attacked Biden’s EV push as a boondoggle that is forcing American companies to manufacture unprofitable, undesirable vehicles. He hasn’t spelled out exactly what chain of events he envisions as a result — this is Trump, after all — but in his speeches and interviews, he has said it will be a “bloodbath” for American workers. Trump has pledged to reverse Biden’s policies, if elected, while taking even more aggressive action to stop imports.
Trump has made plain his opposition to Biden’s EV support, in speeches and in interviews ― and in the “Agenda 47” section of his campaign website, where a page dedicated to the auto industry pledges to roll back Biden’s new emission standards and “stop the flow of American tax dollars that are subsidizing Chinese electric vehicle battery companies through Joe Biden’s so-called Inflation Reduction Act.”
