Speaking in Detroit on the "Electric Vehicle Manufacturing Boom in America", President Joe Biden said, "You know, you all know I’m a car guy. I’m here because the auto show and the vehicles here give me so many reasons to be optimistic about the future. And I really mean it. Just looking at them and driving them, they just give me a sense of optimism, although I like the speed too.
"And — and for most of the last century, we led the world — and it’s by a significant margin, and — because we invested in our people, we invested in ourselves.
"And something went wrong along the way here. Something went wrong. We risk losing the edge as a nation, and China and the rest of the world are catching up.
"We used to invest almost 2 per cent of our entire GDP in research and development; now 0.7 per cent. And the rest of the world is catching up.
"But not anymore. Now we’re choosing to build a better America — an America that’s confronting the climate crisis, with America’s workers leading the way."
Read the Speech: https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/09/14/remarks-by-president-biden-on-the-electric-vehicle-manufacturing-boom-in-america/