Three years ago, the global auto industry was gripped by a collective hallucination. CEOs promised us that the internal combustion engine would be dead by 2035 and that legacy automakers were just one battery factory away from a trillion-dollar valuation.
That narrative has now collided with economic reality.
In this video, we analyze the collapse of the “inevitability” narrative. We look at why Ford has been forced to take a staggering $19.5 billion write-down, why the European Union is quietly dismantling its own petrol ban, and why—despite billions in subsidies—automakers are still losing $6,000 on every electric vehicle they sell.
We examine how the industry confused a political project with consumer demand, leading to a market where the cars are too expensive for the middle class and too unprofitable for the manufacturers.
EVs make sense in a warm country, if the infrastructure is there to support it.
The weather clearly plays a huge role. After all that is why the country with the most EVs is tropical Norway. /s
Don’t tell the Scandinavian countries that.
They have heat pumps in EVs now. Range reduction in cold is much less than it used to be, but you have to do your research when buying.
Patently ridiculous claim.
For being an allegedly cold nation, there sure are a lot of Canadians who appear to not be able to cope with the cold whatsoever.