It is a worthy investment to steer more money to EV production due to the simple fact that the stagnating effect innovation was not gonna go away. We should save petrochemicals for actual long term usage or actual critical uses like air travel.
It would be absolutely devastating for our future development if a major chunk of our fossil fuels was quite literally wasted on routine traffic when we could be using it to create novel materials out of it in 200 years’ time.