Posted on 03/14/2024 7:34:50 AM PDT by george76
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..
consumer demand for EVs hasn’t shown up in the way executives had expected
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The buzz around electric vehicles is wearing off.
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% of EV sales in the country in 2023, is bracing for what “may be a notably lower” rate of growth,
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ESG investing — or investing geared toward environmental, social and governance principles — emerged in recent years and
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If former President Donald Trump is reelected, he’s expected to scale back or remove the fuel economy mandates, as he did during his first term in office.
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Automakers operating in Europe face stricter governmental EV regulations, which currently aim to ban sales of traditional, fossil-fuel vehicles by 2035. However, changes have already been made to the regulations and conservative groups such as the European People’s Party have called for dropping the ban.
(Excerpt) Read more at cnbc.com ...
Sounds like Japan.
Solution: ban hospitals
My friends had a golf cart and THEY bitched when it was time for new batteries!!
What that means, in plain English, is the industry already has reached market saturation with the virtue-signalling environmentalist wacko crowd. And nobody else wants to buy the silly things.
A good start.
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