Please ensure Javascript is enabled for purposes of website accessibility

Can Detroit Really Make Half Its Vehicles Electric by 2030?

By John Rosevear – Aug 13, 2021 at 6:30AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

A certain upcoming pickup truck might be the key to making it happen.

Last week, President Joe Biden and leaders of the United Auto Workers and the three Detroit automakers -- Ford Motor Company (F 1.09%), General Motors (GM 2.04%), and Chrysler parent Stellantis (STLA 2.70%) -- announced a bold goal: 40% to 50% of vehicles sold in the U.S. should be fully electric by 2030.

Of course, it's one thing to set a goal and another to achieve it. While all three of the Detroit auto giants are already spending billions to develop electric vehicles, it's still not clear whether Americans will buy enough of them to make that goal a reality. In this Motley Fool Live video, recorded on Aug. 5, Industry Focus host Nick Sciple and Motley Fool senior auto specialist John Rosevear ask whether that timeline is realistic -- and how Ford's upcoming F-150 Lightning could play a big role in getting enough Americans to go electric. 

10 stocks we like better than Ford
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now... and Ford wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

 

*Stock Advisor returns as of August 9, 2021

 

Nick Sciple: Maybe one last thing on the presidential action, so 2030, targeting half of autos sold in the USA being electric vehicles. In your opinion, how realistic is this timeline? Like is this having heaven and Earth to be moved to achieve this? Or is this kind of in line with kind of where we expect things to move anyway, what are your thoughts?

John Rosevear: Heaven and earth has to be moved, but heaven and earth is already moving. I would say assuming they can get the batteries the automakers will have the cars or at least the ability to build that many electric vehicles. We need the buyers to show up to really make it work and that means we don't need a giant electric vehicle backlash between now and so on and soforth. You can see where this could become a thing only crazy liberal commies drive electric vehicles, this and that. But what I think is so significant about Ford's F-150 Lightning, is it neatly defuses that. Here is the best-selling pickup truck and we're making it electric and that makes it better. It's important for Ford's business to get it out there soon, and I think it's also going to turn out to be a significant product in moving Americans to adopt electric vehicles.

Nick Sciple has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Nearly 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Ford Motor Stock Quote
Ford Motor
F
$13.90 (1.09%) $0.15
General Motors Stock Quote
General Motors
GM
$40.56 (2.04%) $0.81
Stellantis  Stock Quote
Stellantis
STLA
$15.62 (2.70%) $0.41

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
349%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 11/30/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.