Warning: Some posts on this platform may contain adult material intended for mature audiences only. Viewer discretion is advised. By clicking ‘Continue’, you confirm that you are 18 years or older and consent to viewing explicit content.
At least in Europe, there are a few big reasons. First and foremost combustion engines are more profitable. EV require a lot of R&D and factory investment, which is not needed for old school combustion engines. The other part is a shrinking car market. Covid means a lot more work from home and at least in Europe, you generally have the option of doing a lot of things on foot, bicycle or public transport. At the same time, when you drive less you do not go for a new car as quickly. Then you have cost. Due to supply chain issues battery prices have not fallen quickly enough. There was a bit of time, when they were stable. Good news is that they are falling again.
In other words, this is a difficult transition and some car makers are going to fail.
At least in Europe, there are a few big reasons. First and foremost combustion engines are more profitable. EV require a lot of R&D and factory investment, which is not needed for old school combustion engines. The other part is a shrinking car market. Covid means a lot more work from home and at least in Europe, you generally have the option of doing a lot of things on foot, bicycle or public transport. At the same time, when you drive less you do not go for a new car as quickly. Then you have cost. Due to supply chain issues battery prices have not fallen quickly enough. There was a bit of time, when they were stable. Good news is that they are falling again.
In other words, this is a difficult transition and some car makers are going to fail.
And the world will be better for it.