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Biden kicks off electric vehicle push with South Carolina plant 'tour'

Stock MarketsApr 20, 2021 02:15PM ET
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2/2 © Reuters. FILE PHOTO: U.S. President Biden delivers remarks at the White House in Washington 2/2

(Fixes in typo in Carolina in headline)

By David Shepardson

WASHINGTON (Reuters) - President Joe Biden will virtually tour a South Carolina electric bus and battery manufacturing plant on Tuesday as the White House touts his proposal to boost the production of zero-emission buses and cars.

Biden will tour a U.S. electric bus manufacturer Proterra facility. He has proposed spending $20 billion to electrify at least 20% of school buses and $25 billion to electrify some transit vehicles as part of his $2.3 trillion infrastructure and jobs plan. In total, Biden has proposed $174 billion boost EVs, including $100 billion in consumer rebates.

The White House's push to electrify vehicles comes as China has dominated the world electric bus market. But Proterra estimates 50% of all new North American-built buses in 2025 will be electric.The U.S. has over 475,000 school buses and 65,000 transit buses and most run on diesel fuel, the White House said. Biden "made a commitment that all American-made buses would be zero-emission by 2030," but it is not clear if he would seek to ban the sale of non-zero emission buses.

Vice President Kamala Harris on Monday toured a Thomas Built Buses facility in North Carolina to tout the company's electric bus manufacturing.

Burlingame, California-based Proterra was founded by mechanical engineer Dale Hill in Golden, Colorado, in 2004 and has provided hundreds of public transport buses to U.S. cities since inception.

The White House has declined to endorsed setting a firm date like California to phaseout gasoline-powered passenger vehicles.

Proterra in January agreed to go public through a merger with ArcLight Clean Transition Corp in a deal valued at $1.6 billion, including debt.

The company is going public through a merger with a blank-check company or special purpose acquisition company (SPAC). SPACs are shell companies which raise money through an IPO of its shares to take another company public within two years.

The transaction is expected to close in the first half of 2021.

(This story fixes in typo in Carolina in headline)

Biden kicks off electric vehicle push with South Carolina plant 'tour'
 

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Comments (14)
James Andrews
James Andrews Apr 21, 2021 6:21AM ET
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No one wants them, they'll have to spike gas prices to get it done.
Steve Lora
Steve Lora Apr 20, 2021 9:47PM ET
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Biden is no longer in charge of the USA. He doesn't have the cognitive ability to govern. The radial Democrat socialist party is taking his phone calls.
Silence Dogood
Silence Dogood Apr 20, 2021 8:46PM ET
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Biden can't even "kick off" his shoes without help. The man is a vegetable.
William Smith
William Smith Apr 20, 2021 7:11PM ET
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Joe's late, the EV kickoff was several years ago.
milena villa escobar
milena villa escobar Apr 20, 2021 5:41PM ET
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good job Rueters using pics of Biden that make him look like he actually knows what he is doing.  seriously??
Kevin Eddlemon
Kevin Eddlemon Apr 20, 2021 5:40PM ET
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Please leave senile Joe at the old folks home. He barely knows his own name half the time. What a complete embarrassment.
buylow sellhigh
buylow sellhigh Apr 20, 2021 5:32PM ET
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trashing not trading
Gene Kret
Gene Kret Apr 20, 2021 5:32PM ET
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Did Sleepy Joe really know where he was and why he was there? I dont think so.
milena villa escobar
milena villa escobar Apr 20, 2021 5:32PM ET
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hell be lucky if he doesn't soil himself during the tour
buylow sellhigh
buylow sellhigh Apr 20, 2021 5:31PM ET
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Instead of trading 1000's of good vehicles, why not invest in bio fuel in conjunction with ev. GEVO and XL Fleet. Bill Gates has already seen the future and has bought up farm land and is now the single largest owner in the country looking for a play at producing crops for bio fuel and hemp.
buylow sellhigh
buylow sellhigh Apr 20, 2021 5:28PM ET
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XL Fleet, hybrid tech
Jabie Bulie
Jabie Bulie Apr 20, 2021 2:28PM ET
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Not buying your electric car !!
Mark Jannetty
Mark Jannetty Apr 20, 2021 2:16PM ET
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maybe we should start with more nuclear power, if they want electric cars. pay 33% more per mile with current electric prices
ben sc
ben sc Apr 20, 2021 1:49PM ET
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El Presidente sighting!
Felipe Daniel
Felipe Daniel Apr 20, 2021 1:39PM ET
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America has never been weaker than with Biden at the helm. The press corps does not question him like they did Trump and people see the double standard.
William Smith
William Smith Apr 20, 2021 1:39PM ET
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Felipe, just pray the 2and in charge never become president as Biden will look like a strong leader at that point.
 
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