The Biden administration has put a fire under the U.S. auto industry's transition to electric vehicles. It has laid down the challenge of a deadline — at least a wished-for deadline — to convert half the new-vehicle sales in the U.S. It has made hundreds of billions of dollars available to incentivize the purchase and development of EVs and created a carrot-and-stick incentive to move the industry to locally source the technologies, components and critical raw materials needed for the new industry.