The EV Honeymoon Seems To Be Over
“Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans,” reports CNBC
The headline says it all: “EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans.”
Yeah, there’s a shock.
Gee, why-oh-why would people not want to purchase a super expensive vehicle that can take more than an hour to charge — and that’s if you can find a charging station? Via CNBC:
For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth.
Wall Street boosted valuations for legacy automakers and startup entrants alike, based in part on their visions for an EV future.
Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans.
Even U.S. EV leader Tesla, which is estimated to have accounted for 55 percent of EV sales in the country in 2023, is bracing for what “may be a notably lower” rate of growth, CEO Elon Musk said in late January.
There is a host of other problems. Consumers are discovering a fully charged car does not last for as many miles as advertised. Cities are discovering their electric grids are in no shape to handle all the extra juice needed to power millions of electric vehicles.
EV sales are still expected to increase. Last year, they represented 1.2 million sales in the U.S. or 7.6 percent of total car sales. By 2030, that number is expected to climb somewhere between 30 and 39 percent (which still seems Pollyanna-ish to me).
The movement now appears to be towards hybrids, which offer the best of both worlds. You have your battery and your gas-powered engine as a backup.
“EVs may be ‘the future’ but are struggling in the present,” per Morgan Stanley analyst Adam Jonas. “Hybrid sales are growing 5x faster than EVs in the US.”
The early adopters, the smug environmentalists and the trendy rich, have already bought in. Now, the car manufacturers have to encourage normal people, and we’re a little more circumspect.
Do these cars really save you money? Sure, but only if you drive enough miles over ten whole years. At the same time, while EVs can cost less to maintain, they can also cost more to repair.
If you have a set routine, I get it. You unplug, drive from home to work, to the grocery store, to the gym, back to home, and plug back in. That makes sense for an EV.
But the moment you have to drive outside of that comfort zone, it’s stress-out time. Will I find a charger along my route? Will the charger work? Will there be a line? How long will it take?
No thanks.
Naturally, the leftist Biden administration still plans to force the car industry into adopting impossible fuel standards and fining them billions if not met.
The Alliance for Automotive Innovation weighed in:
The Alliance for Automotive Innovation, which represents General Motors, Toyota Motor, Volkswagen, Hyundai and others, said the National Highway Traffic Safety Administration Corporate Average Fuel Economy proposal “exceeds maximum feasibility” and that the agency projects “manufacturers will pay over $14 billion in non-compliance penalties between 2027 and 2032.”
Another estimate says, “such regulations would cost GM $6.5 billion in fines and Jeep parent Stellantis $3 billion. Ford’s “penalties would total about $1 billion.”
All of this, of course, will be passed on to the consumer, you, and me.
This is the Green Religion, a fanatical faith that has nothing to do with science or economics.
Democrats refuse to increase the electric grid, even as they demand we buy electric cars that put more demand on the electric grid.
Pure madness.
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Wisenox
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The fascists will use the law to illegally force their profits and agenda, and the sheep will notice none of it.
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Ken Hughes
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It’s not “pure madness”. It’s planned. They want to get us off the roads. Here in Hampshire, England they have given up on road repairs and we have to put up with potholes growing in number before our very eyes. Clearly they have sacked the civil engineers who identify problems and set remedial work in motion. They have sacked the admin of road repair contracts. They have geared down to deliberately neglect road maintenance, presumably because they already KNOW we are going to be forced off the roads one way or another.
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Corona Hotspot
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This is all so unbelievable sick.
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Iris
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The fall into Technocracy isn’t going so well:
UK Citizens Just Got a Brief Foretaste of the Inherent Fragility of a Cashless Economy
Posted on March 19, 2024 by Nick Corbishley
Unlike digital forms of payment, cash does not crash.
“Major system outages have already occurred in Australia, the UK, Singapore, Spain and Canada, to name just a few places, over the past six months, all of which have raised serious questions about the resilience of their digital payments infrastructure.”
Not going well on the medical front either:
New Study of mRNA Toxicity which Shows ‘Issues That Could Have Fatal Consequences’ was ‘Hidden.’
“This review simply confirms what I and some other scientists have warned about since 2020. So-called COVID-19 vaccines are based on untested technology that triggers cells to produce foreign proteins which interfere with cell function.
The LNP-mRNA has many unknown effects on the body.
COVID-19 vaccines should never be given to humans, as has been known since the technology’s initial tests.”
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Dave
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EVs, Unsafe at any Speed🔥🔥🔥
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Allan Shelton
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I am quite sure that Trump will reverse any of Joe Bribem’s new laws re EVs
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aaron
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Still waiting for Hillary’s prison sentence as promised
They ALL serve the same master, if you haven’t noticed by now
Trump will follow orders, just as the rest of the worlds politicians have done these past few years
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Howdy
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“Failed gamble on electric vehicles has cost Hertz CEO his job”
https://www.techspot.com/news/102333-failed-gamble-evs-cost-hertz-ceo-job.html
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aaron
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were is the stolen money he made from his gamble?
its only a gamble if there is something to lose, he has lost nothing but a title, gotta love the headlines
he lost his job and keeps the windfall profits, seems fair
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Mervyn Sullivan
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In 2015, Christiana Figueres (former head of the UNFCCC) let the cat out of the bag that the Paris Climate agreement was more about economics than climate. She was the first person to reveal the United Nations was in the process of replacing the ‘economic model’ of the last 150 years (to save the planet from ‘climate change’). She also stated the only way to effectively implement climate policy was to adopt the ‘Chinese system’.
So there you have it… it’s about getting rid of capitalism and implementing authoritarianism. The elites want an end to freedom, democracy, the market economy and prosperity.
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