Despite much of the hype and investment surrounding EVs, they only represent about 10% of the US auto market. The Biden administration has announced new investments into electric vehicles and EV charging infrastructure to help speed up the adoption rates of EVs in the United States in hopes of accomplishing 2030 goals. But EV adoption remains slow with higher price tags surrounding EVs, recent reports of battery malfunctions in cold weather, and continued anxiety about battery life.

iSeeCars.com Executive Analyst Karl Brauer joins Yahoo Finance to discuss the Biden administration's continued investments in EVs and infrastructure surrounding EVs, and whether or not it will be enough to impact the sale of EVs in the US.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino

Video Transcript

KARL BRAUER: The Biden administration announcing new investments to trim the cost of EVs for Americans and also build out infrastructure. Some customers though might be wondering if an electric vehicle is still worth it. People are finding that the low temperatures are draining EV batteries in an unanticipated-- in an unanticipated rising issue. Rental firm Hertz Global will be selling around 20,000 EVs, not directly tied to what we are seeing play out with the cold weather and the impact that is having on EVs.

But that is tied to demand. So let's talk about all of this. We want to bring in Karl Brauer. He's Executive Analyst here at iSeeCars.com to dig into this a little bit more. And Karl, let's start with the news of the day, and that's the latest out of Ford the F-150 lightning pickup. What's your read into that? And really, what that tells us more about the broader story about EV demand and the fact that it's not living up to those initial expectations?

KARL BRAUER: Yeah, I think we've reached a point in the marketplace where the early adopters, the people who really want to buy a zero-emissions vehicle. There's various demographics that we're into and are interested in EVs, and they seem to have all gotten their EV, and obviously, that's not a static thing. There's constant churn going on there. But it does seem like we've got to break past that segment of the population into the mainstream buyer, the average consumer.

And the average consumer is going to be less concerned about or thinking about emissions or even torque and all the electric vehicle benefits. They are going to be thinking about their cost upfront, their cost ongoing while they own it, their depreciation when it's time to sell it. And after this past week, probably, things like what's going to happen when it gets really cold if I'm driving one?

- Karl, we've talked so much about a crypto winter. Maybe we need to start talking about an EV winter as well. There's some similar characteristics in customer demand and where the production is going to shift towards as well. Is it possible that we are in an EV winter? And then who emerges? And what's the catalyst that gets us out of it?

KARL BRAUER: Yeah I mean, I do think that we've hit again this market share stabilization point when we-- iSeeCars did a study, and we looked at the market share of EVs across the country and in cities, and what we saw was that it was growing much quicker in cities or states that had less than say 5% share. But states like California and Oregon and Washington that already had between 7% and 10% share didn't grow very much at all there. So I think it's much easier to get to that first 7%, 7% to 9%, than it is to get from say 9% to 11% or 12% or 13%, and I think that's what we're hitting right now on a national level, and that's just one element.

Then you've got so many other elements too. People considering their extreme uses, and I think that's where people are starting to see what happened in Chicago, and they think to themselves, look, you can make the argument all day long that the average person only drives 30 miles a day and that the range isn't an issue, and they can all charge at home.

On an average day, all those things are true. Ask Chicagoans what happens when the temperature is an average. Ask any EV owner what happens when a friend or a relative or some emergency comes up, and you've got to go 200 or 300 miles in a day instead of 30 or 40 miles in a day. And those conditions might not be common. But we all know that Americans typically buy for their max use case, and if they think that things change from average to non-average or extreme, and things fall apart, they're not going to want to buy a vehicle that has that circumstance.