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Race is on as carmakers shut, switch or sell combustion engine factories
The Guardian (UK) ^ | 12/27/2020 | Jasper Jolly

Posted on 12/28/2020 8:38:30 AM PST by RightGeek

Carmakers will increasingly find themselves in a race to shut, switch or sell factories producing vehicles with internal combustion engines to avoid being left with “stranded assets”, as regulators set a course for a decade of electrification to reduce carbon dioxide emissions.

Traditional manufacturers are currently playing a “zero sum game” because growth in electric car sales eats into the value of internal combustion engine factories, which “are effectively stranded assets”, a leading analyst has warned.

Philippe Houchois, an analyst at Jefferies, an investment bank, said carmakers’ share prices will be in large part dependent on their ability to avoid losses on fossil fuel assets. “If you want to be a better valued carmaker you need to find a way to shrink your assets faster than a gradual transition to electric vehicles would suggest,” he said.

The industry has already made significant steps away from fossil fuels. The year 2020 will be seen as key for electric cars because of new EU regulations that mandated a limit on average carbon dioxide emissions of 95g/km across all cars sold. The UK has committed to carrying on its emissions regime at an equivalent or stronger level after the Brexit transition period ends on 1 January 2021.

The regulations have prompted a rapid increase in electric car sales as carmakers scrambled to avoid fines worth hundreds of millions of euros – although Volkswagen has already conceded that it will miss its 2020 target, incurring a fine estimated at around €270m (£248m).

BMW announced on Sunday it would build 250,000 more electric cars than it had previously planned between now and 2023. Oliver Zipse, the company’s chief executive, said he wanted roughly 20% of cars it sells to be electric by 2023, up from 8% this year.

(Excerpt) Read more at theguardian.com ...


TOPICS: Culture/Society; News/Current Events; United Kingdom
KEYWORDS: evilrollson
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To: RightGeek

“I suspect they will look for those (male or female) who identify as virgins”

They can use incels!


61 posted on 12/28/2020 9:05:45 AM PST by beef (Use a VPN, use Tor, and get a shortwave radio. Oh, and ACAB- All Commies Are Bastards)
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To: RightGeek

👰🌋. Well, we carmela D’ho is safe.


62 posted on 12/28/2020 9:06:06 AM PST by rktman ( #My2ndAmend! ----- Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: Phillyred

PG&E is shutting electric off to cities because they can’t meet demand at times.... and the morons out there are mandating 50 million electric cars on the road instead of combustion engines. Brilliant...


63 posted on 12/28/2020 9:06:09 AM PST by kjam22
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To: Jeff Chandler
> Citation?

That is called sealioning

64 posted on 12/28/2020 9:07:20 AM PST by glorgau
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To: kjam22

I don’t think the overlords see that as a “problem” at all.
Controlling the mobility of the public is quite easy that way.


65 posted on 12/28/2020 9:07:30 AM PST by nascarnation
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To: Bonemaker

Can we coin a new word? Masteria!. Trying to save the alphabet one letter at a time.


66 posted on 12/28/2020 9:08:13 AM PST by rktman ( #My2ndAmend! ----- Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: nascarnation

Yep... it is the whole emphasis to ban fracking. Baning fracking means we go back to buying from OPEC. OPEC charges whatever they want. Oil and Gas skyrocket here, and OPEC feeds a portion of their profits back to the deep state dems and repubs.


67 posted on 12/28/2020 9:08:31 AM PST by kjam22
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To: RightGeek

Not good. Petroleum products are the most cost-efficient.

Remember when they started vehicle emissions testing? That was supposed to solve the problem. Obviously it was never meant to solve the problem, just to make us feel guilty over our gasoline engines.


68 posted on 12/28/2020 9:08:56 AM PST by I want the USA back (I fear my government much much much much much much much much much much more than a virus from china.)
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To: kickstart

Time to buy futures in towing companies?


Yep, except they will have the same problems with their all-electric tow trucks plus they have to run hydraulics and winches too. Hamsters will be at a premium to charge all those batteries - time to by hamster futures?


69 posted on 12/28/2020 9:09:33 AM PST by PIF (They came for me and mine ... now its your turn)
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To: kjam22

Plus add in fuel costs via “Cap and Tax” like California.

7 dollar gas may make electric cars look more economical.


70 posted on 12/28/2020 9:10:15 AM PST by nascarnation
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To: kjam22
Why is it incumbent upon me to vet your assertion?
71 posted on 12/28/2020 9:11:18 AM PST by Jeff Chandler (We flattened the heck out of that curve, didn’t we?)
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To: Jeff Chandler

What.... I don’t care if you vet it or not. Maybe it is incumbent on you to educate yourself and not expect me to do it for you ?? I dunno


72 posted on 12/28/2020 9:12:50 AM PST by kjam22
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To: RightGeek

Due to market saturation and continual recession, there is bound to be overcapacity in the auto industry. Naturally, the leftist press will attribute every closure to adoption of their views, rather than to the plant closing recessions that they cause.


73 posted on 12/28/2020 9:13:56 AM PST by Socon-Econ (adical Islam, )
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To: SamAdams76

I heard on America’s Voice this morning China is building 200 coal fired power plants around the world.


74 posted on 12/28/2020 9:14:36 AM PST by Java4Jay (The evils of government are directly proportional to the tolerance of the people. )
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To: Jeff Chandler

Just how far do you think those cars go.... and how long do you think it takes to charge them from empty to full battery? And how do you not know? One internet command and you can get the mileage and charge times for a dozen models.


75 posted on 12/28/2020 9:17:09 AM PST by kjam22
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To: RightGeek

I would love to have an EV, but I will never pay for charging. Solar, wind, hydro or even pallet and tire burning steam boiler generator.


76 posted on 12/28/2020 9:17:35 AM PST by Daniel Ramsey
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To: Cobra64

I would like to see a study that examines the amount of energy used to power an electric car vs. a gas powered car. Including the mining the raw materials, energy losses, and transmission losses. I bet internal combustion engines come out ahead of electric cars.


77 posted on 12/28/2020 9:17:44 AM PST by jaydubya2
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To: kjam22

402 miles on a charge.
30 minute recharge on a Supercharger.


78 posted on 12/28/2020 9:21:34 AM PST by Jeff Chandler (We flattened the heck out of that curve, didn’t we?)
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To: kjam22

If it is like 10 degrees out side then you you would be lucky to get 20 miles out of those things. Then you would be stranded and likely freeze to death.

And the lifetime environmental damage from those batteries is huge.

But yes you are right. It is about controlling people. And greatly reducing their ability to travel. Many people here have fallen for it though.


79 posted on 12/28/2020 9:21:41 AM PST by Revel
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To: kjam22
00 miles on a charge. 8 hours to do a full charge. This is not about getting rid of green house gasses. This is about controlling people.

So is the entire phony scare hoax of human-caused climate change.

80 posted on 12/28/2020 9:22:29 AM PST by Bernard Marx
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