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 ...
They are planning on limiting your mobility.
Instead of getting your power to run your car from the independent gas station, you will be getting it from the public utility.
They will ration your electricity.
If you wish to drive someplace for a weekend getaway, you will have to give up the electricity to light your home for a period of time.
And all rationing decisions will be made on a global basis.
If only they could mine and transport iron, convert it to steel, and then distribute it without any carbon input, battery-powered vehicles might be impressive.
Automobile technology is at an inflection point.
Bingo!
I think some of the new models go a lot further and can charge in just a few minutes. Some of the new long haul tractor trailers can do this now I believe, and can last for a million or more miles ... Can’t remember how long now... and can reach 60 in like 5 seco do or so, and are better at hill climbs too.
But for ordinary cars, meh, nope, let me keep my gas power thanks
Good... go buy that model. Have a great life.
200 miles on a charge. 8 hours to do a full charge
I pointed that out to my wife just yesterday citing Toyota’s plan to be all electric by 2035. I said that might work in those demoturd controlled cities but it is not going to work for those who do not. Just a simple trip across Texas would require two overnight stops.
Until people wake up they are being herded into pens, nothing is going to change.
Nope. Government control is the driving force here. The government has the power to force the change. The auto companies make their "decision" based on that.
This is not a natural evolution like steam to diesel was.
No, what actually solved the problem in Southern California was a combination of PCV valves, catalytic converters, electronic ignitions, electronic fuel injection, and emissions testing.
The resulting improvement in the air quality in the Los Angeles Basin is astounding.
I think that is the ultimate goal. They have hinted at that for a long time. Now they are getting bolder about it.
Yeah. Had a moron where I used to work who had a Tesla Model 3. I asked how she liked her natural-gas-powered car. She said it was solar, because she had solar panels on her roof and charged her car with those. I asked when she charged the car. At night.
The stated plan is to “go electric.” The underlying plan, IMO, is end private vehicle ownership by making it too expensive to own one.
My current vehicle still has a few miles of life left in it, but when the time comes, I might buy a Tesla.
.
Have a great life.
I already do!
Zackly.
The local one-stop shopping mega store has a 10 pump gas station where cars are always lined up. Usually takes about 5 min per car. They also have 3 electric charging “parking” spots.
Betting against traditionalists and conservatives and in favor of globalists and progressives has been a safe bet for the past generation, and will continue to be so.
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