
The American Transportation Research Institute (ATRI) released a report last week that hasn’t received enough attention. It was called Charging Infrastructure Challenges for the US Electric Vehicle Fleet and exposed a big problem.
If there is widespread adoption of electric vehicles in the United States, annual electricity production in the United States will need to increase by 40.3%, according to the report, with some states expected to increase production by 60%.
There is almost nothing in the works in the richest country on the planet to solve this problem and it takes years, sometimes decades, to build the electricity production. Countries are already warning people not to charge electric cars when there is a risk of blackouts
Additionally, they estimate that the United States will need more chargers for long-haul trucks than there are. car park spaces for them that currently exist.
As I’ve written before, the raw materials needed are staggering, and the report estimates that the United States alone would require 6.3 to 34.9 years of production for certain products, ranging from cobalt to graphite to lithium and nickel.
cnbctv18-forexlive