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 ...
There are no liberal virgins. Liberal chicks are easy.
Mass hysteria.
They will want to use conservatives eventually.
And how exactly do they plan to charge all those electric cars.
I guess European car manufacturers will be moving their headquarters to the US. So the Big 3 will become the Big 7?
Gas-powered generators?
How soon will they be demanding electric airplanes, helicopters, ships and tanks? The possibilities are endless, especially for libtards.
Pretty soon, all these newfangled whizbangs will have a small sticker on them:
“Batteries not included.”
Flintstone cars for everyone!
They aren’t going to build more power plants so it must be they are planning on powering them with sweat from albino unicorns.
200 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.
Gonna be hilarious when these battery operated cars flood the US market and nobody buys ‘em.
Won’t go as fast as my gas car, go as far as my gas car, takes longer to recharge the power source than my gas car, costs more than my gas car and as I understand it they have a worse impact on the environmentment than my gas car.....gee, where do I sign up for that???
When government uses force of law to require something, and bans the alternatives, we have never benefited as a country.
China is building hundreds of coal fired power plants to charge their electric cars. No problem!
We will spend trillions to get all electric cars to save 20 pounds of CO2 per year.
Meanwhile China and India will belch out millions of times more CO2 and not change anything.
Insanity.
In the US, they will only become widespread because of government regulation/mandates/enforcement.
Given the trend of our fedeeral government, that can easily happen.
Good point. I suspect they will look for those (male or female) who identify as virgins.
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