The mid-term elections in the United States could have a ripple effect throughout the electrical vehicle market. The Biden Administration has continued to promote clean energy efforts, though it's extremely likely oil and gas executives hope for the GOP to take back control of the House of Representatives.
If the GOP wins control in November, Senator Lindsey Graham (R-SC) has vowed to hold hearings related to the impact on automakers and the oil industry as the market transitions towards EVs. Here is what Sen. Graham said during a BMW event where the German automaker pledged $1.7 billion in his home state:
"Where do the battery parts come from? Where do the raw materials come from? Batteries become the new oil. South Carolina's going to become the Detroit of batteries.
Graham also invites "the car companies to come to Congress and say, 'Here's where we're going, here's why we're going there, here's what we need from you to be competitive in this space.'"
Earlier in the month, US Senate Republican Leader Mitch McConnell (R-KY) applauded a $480 million investment in lithium-ion battery production in Kentucky. An eye on the future, it could be a slippery slope supporting both the energy lobbyists and EV projects.
Optics related to fuel and energy is strengthening the GOP, with Republican candidates attacking their Democratic opponents over gas prices. Although claiming the US has lost "energy independence," which is misleading, but a good political tactic to garner support.
The nation waits to see what happens following election day next month, with lobbyists and supporters from both the EV and gas and oil industries with lots on the line. CleanTechnica has an in-depth analysis covering what's on the line stemming from midterms.