The Expert Podcast

Well, I guess they're really serious about electric vehicles after this batch of news. It all came out within 48 hours, and all three U.S. manufacturers came out with very serious news. This is something that's not just incremental electric vehicle progress.

First, Ford is constructing the biggest manufacturing facility ever. This is the biggest auto plant ever; it's a brand new factory in Tennessee that is bigger than any other plant they've ever built for electric vehicles. This plant is only for the truck, not for other electric vehicles. At the same time, Chrysler, in the Wall Street Journal, announced that they're going to be all-electric by 2028. We've seen some manufacturers in states talking about 2030 or 2035 being switched over, but Chrysler is upping their game to 2028. The largest automaker set ambitious EV targets and will become an all-electric automaker by 2028. Look, that's only five years away—that's nothing. There are some car loans being issued right now with five- or six-year loans on new cars that you buy today. By the time those loans are paid off, you might not be able to buy a gas vehicle from Chrysler. If you buy a car today with a five-year loan, when that loan is done, you might not be able to buy a Chrysler gas car. That's what we talked about in a prior video—the car you buy right now could be your last gasoline car.

What about General Motors? They're investing three-quarters of a billion dollars to shift an Ohio plant to EV parts. This is just for parts—three-quarters of a billion. They're going to build transmissions for electric vehicles.

What about outside manufacturing? Well, Hertz, the rental car company, is teaming up with BP, the oil company, to install thousands of EV chargers in the U.S. They're going to add hundreds of thousands of EVs to its fleet, so they need the chargers. They're going to have high-traffic sites open to the general public with EV chargers.

So, I guess if you take all this together, it means that they're really serious about this. All three manufacturers, rent-a-car companies, and oil companies—they're all going all in, full blast, with electric vehicles. Plan your future accordingly. By the turn of this decade, gasoline vehicles might be like horse and buggy—you might not be able to get any. If Chrysler is not going to build any gas vehicles within five years, by the time you get five or six years from now, it might be tough to get any, and even if you can, they might not be that desirable. People might not want them.

So plan your life, plan your future development. Maybe put an EV charger in your garage, even if you don't have an EV. It would be cheaper today than it will be in three years with inflation. Figure out where you want to live based on access to chargers and where you want to get to within a two- or three-hundred-mile range. Tell us what your thoughts are in the comments.