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The electric vehicle industry has a lot riding on the outcome of the Presidential election

The electric vehicle industry has a lot riding on the outcome of the Presidential electionBoth of the major-party presidential candidates have said they support electric vehicles, but a Joe Biden win could bring changes to significantly speed up the adoption of cars and trucks built by the likes of Tesla andNikola.

Most transportation experts envision a future with road travel dominated by electric-powered autos. The outcome of the election could determine whether it takes a decade to get there, or much longer.

Biden’s plan for the industry includes building more than a half-million charging stations by 2030, restoring the full electric-vehicle tax credit and instituting stricter regulations that would encourage the use of electric-powered autos. President Donald Trump is expected to maintain the status-quo – which has included loosening fuel emission standards and a plan for building a smaller number of charging facilities.

“A Biden win, coupled with Democrats taking control of theSenate, has the potential to shift the trajectory of electric vehicle adoption for years while reversing some of the damage inflicted by the current administration,” a team ofBloomberg New Energy Financeanalysts, led byAleksandraO’Donovan, said in a report published last week.

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