FSR - Electric vehicle stocks rally after Biden proposes massive investment in EV market

The electric vehicle sector is rallying ahead of a speech today by President Biden. Biden's American Jobs Plan covers electric vehicles in detail. White House Fact Sheet on Biden-EVs: "U.S. market share of plug-in electric vehicle sales is only one-third the size of the Chinese EV market. The President believes that must change. He is proposing a $174 billion investment to win the EV market. His plan will enable automakers to spur domestic supply chains from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs. It will give consumers point of sale rebates and tax incentives to buy American-made EVs, while ensuring that these vehicles are affordable for all families and manufactured by workers with good jobs. It will establish grant and incentive programs for state and local governments and the private sector to build a national network of 500,000 EV

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Electric vehicle stocks rally after Biden proposes massive investment in EV market