US utilities, regulators gear up for electric vehicle outlook
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Last week brought another major development in the outlook for the US adoption of electric vehicles, with Ford Motor Co. and South Korea's SK Innovations announcing an $11 billion project to manufacture EVs and lithium-ion batteries in Kentucky and Tennessee starting in 2025. A lot of uncertainties still surround the outlook for EV adoption in the US, including government incentives like those in President Biden's Build Back Better proposal, the cost comparison with gas-powered cars, and scale-up of charging infrastructure. Senior editor Meghan Gordon spoke with Karen Felton, EY's head of Americas power and utilities, about what she sees for the electrification of US transportation. Stick around after the interview for Senior editor Jordan Blum with the Market Minute, a look at near-term oil market drivers.
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