"Yellen Highlights EV Growth Amid Inflation Concerns and Clean Energy Investments"

U.S. Treasury Secretary Janet Yellen praised President Biden's investment in electric vehicles during a visit to a new EV battery factory in Kentucky, highlighting a "boom" in EV-related investments. However, major automakers like Ford and General Motors are toning down their all-electric car transition timelines, shifting to a more cautious approach. While Biden's policies and federal funds have fueled private sector investments, challenges such as slower EV charging infrastructure development and lower-than-expected consumer demand have led to adjustments in EV goals and emissions reduction timelines. Additionally, Biden's aggressive EV push has become a political liability, with tensions arising between his EV goals and labor concerns, particularly with the United Auto Workers union.