Posted on 01/10/2025 11:07:09 AM PST by Ronaldus Magnus III
SEOUL, Jan. 10 (Korea Bizwire) — In a stark reversal of fortune, South Korea’s leading battery manufacturers are bracing for significant fourth-quarter losses as the electric vehicle market faces a prolonged period of stagnating demand.
(Excerpt) Read more at koreabizwire.com ...
""The industry faces what analysts describe as a “triple threat”: weakening demand, oversupply, and policy uncertainty.""
Policy Uncertainty = governments will stop the subsidies/tax credits. Without these taxpayer dollars, there is no 'market.'
""Industry observers worry that his [Trump] administration might eliminate or reduce battery industry support measures like the Inflation Reduction Act, which South Korean manufacturers have heavily relied upon""
'Support Measures' = more taxpayer dollars down the rabbit hole.
Recently, in Canada, the Ford Motor Company decided not to build an EV factory. Instead, the factory will produce products people actually want and need. Ford trucks that use a very abundant energy source - hydrocarbons.
Good! A business that goes all in on immature, unproven tech deserves to lose.
Sell Mortimer sell! tern those machines back on!
Stinks to be a greenie.
Big business made a bet that the governments could shove this EV nonsense down our throats. Sucks to be them.
The boards of corporations are infested with the spawn and the relatives of our biggest politicians, that’s why they don’t fight this stuff, they’ve been compromised by the very government itself.
About everybody who wants an EV has already bought the EV and now dealers are stuck with inventory. A lot like .. a fad. And fads fade inevitably.
Don’t worry some Cruise-lines want EV Ships and that would be very very very big batteries , can you see the flames underwater,LOL
Although I am not a Ford fan, never was & never owned one of their products but will admit that at times they produced some very desirable items.....none of which was or likely ever will be an EV. Glad to hear they are getting away from EVs though. I you don’t produce what the general public wants you will eventually fail. Wish GM would go back to a new & improved Buick Park Avenue, though I could only afford a used model.
There’s a huge EV factory going up in my neck of the woods. I keep telling folks that, 1). it’s dangerous and could lead to a huge environmental disaster, and 2). the market for EV’s is disappearing. Building that thing will leave the community with a huge, empty, factory. No one is listening.......
Ford Blue Oval City in Tennessee, the battery plant?
I know a couple who sunk their life’s savings into a McMansion near that plant saying there will be loads of people making money hand over fist working in that factory.
Then they can sell the house for several times what they paid for it and retire.
No, this one is in northern Indiana, Kokomo, the StarPlus EV Plant.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.