The Electric-Vehicle Bubble Starts to Deflate

[Cellblock2429]

Cooperate (business) sales was the bulk of the initial growth, that's now died. The domestic market is generally not interested in EV's, mainly stating cost as the issue. And yes, the virtual signallers were the ones daft enough to part with their cash.

/----/ Used EVs are piling up, along with new ones nobody wants. A perfect example when Gubmint bureaucrats try to control the market.

 

[justoffal]

It’s ironic, to say the least, that the U.S. is seeking to imitate China’s economic model at the moment that its industrial policy fractures. Look no further than its collapsing electric-vehicle bubble, which is a lesson in how industries built by government often also fail because of government.

Tesla last week slashed its prices in China to boost sales in an oversaturated EV market. In July Tesla and other auto makers in China agreed to stop their EV price war, only to scrap the cease-fire days later owing to government antitrust concerns. While lower prices may benefit consumers, auto makers in China are bleeding red ink and going bust.

A plethora of Chinese EV start-ups launched in the past decade, fueled by government support, including consumer incentives and direct financing. Auto makers churned out EVs to suck up subsidies. Giant property developer Evergrande Group launched an EV unit as its real-estate empire began to implode, but now the EV unit is foundering too.

About 400 Chinese electric-car makers have failed in the past several years as Beijing reduced industry subsidies while ramping up production mandates. Scrap-yards around China are littered with EVs whose technology has become outdated, redolent of its unoccupied housing developments created by government-driven investment. […]

Cox Automotive reported this month that EV inventory had swelled to 103 days of supply in the U.S., about double that of gas-powered cars. Auto makers and dealers are discounting EVs to sell their growing supply. The average EV price paid by consumers has fallen 20% compared with a year ago to $53,438, driven by Tesla’s price cuts and dealer incentives.

Ford recently reduced its EV production targets as its losses and unsold inventory grow. At the end of June, it had 116 days of unsold Mustang Mach-Es, and GM’s electric Hummer had more than 100 days of supply. And this is in a growing economy.

Traditional auto makers will have to raise prices on gas-powered cars to compensate for their EV losses. A United Auto Workers executive said Sunday that Stellantis is threatening to move production of its Ram 1500 trucks to Mexico from suburban Detroit, no doubt to reduce costs. The EV jobs President Biden touts will come at the cost of union jobs building gas-powered vehicles.

Meantime, EV start-ups are floundering as interest rates climb, and they struggle to scale up manufacturing. Lordstown Motors filed for bankruptcy in June. Nikola Corp. warned this year that it had “substantial doubts” about its ability to stay in business.

MSN

Socialists love controlling every facet. How many staples to make for staplers. How many potatoes to grow for the peasants. What kind of transportation the peasants must use.

Hydrogen Ice's are coming....
Ev's are leaving....

 

[iamwhatiseem]

Hydrogen Ice's are coming....
Ev's are leaving....

Certainly, if it isn't hydrogen, it will be something else.
An EV is a "battery operated car". And making batteries, is and will always be massively NOT eco friendly.
And when you add in the fact that in order to charge that battery - everyday - you need power from something other than the battery to do so.

Like the article states - only the virtue signalers have bought an EV. Not the smart people.

 

[Weatherman2020]

Hydrogen Ice's are coming....
Ev's are leaving....

I love hydrogen!

 

[justoffal]

Lol....how true

This is why we will take away all of your other choices and make you bend to our will! ( Biden Administration)

 

[there4eyeM]

Any "bubble" regarding electrically powered vehicles is the ridiculous trend to try to replicate the grotesque excesses reached by internal combustion engine powered vehicles. Small, utilitarian electric vehicles, such as bicycles, local delivery carts and compact enclosed cars have and will to continue to have a secure place in the mix.
The absurd losses of energy with petroleum fueled engines, along with their poisonous pollution, should have led to better sollutions a long time ago. Hydrogen might save recips; that remains to be seen.

 

[Weatherman2020]

Any "bubble" regarding electrically powered vehicles is the ridiculous trend to try to replicate the grotesque excesses reached by internal combustion engine powered vehicles. Small, utilitarian electric vehicles, such as bicycles, local delivery carts and compact enclosed cars have and will to continue to have a secure place in the mix.
The absurd losses of energy with petroleum fueled engines, along with their poisonous pollution, should have led to better sollutions a long time ago. Hydrogen might save recips; that remains to be seen.

Spoken like a big city leftist faggot.

 

[Admiral Rockwell Tory]

Any "bubble" regarding electrically powered vehicles is the ridiculous trend to try to replicate the grotesque excesses reached by internal combustion engine powered vehicles. Small, utilitarian electric vehicles, such as bicycles, local delivery carts and compact enclosed cars have and will to continue to have a secure place in the mix.
The absurd losses of energy with petroleum fueled engines, along with their poisonous pollution, should have led to better sollutions a long time ago. Hydrogen might save recips; that remains to be seen.

You know that hydrogen is not a fuel but an energy transfer method.

 

[justoffal]

Any "bubble" regarding electrically powered vehicles is the ridiculous trend to try to replicate the grotesque excesses reached by internal combustion engine powered vehicles. Small, utilitarian electric vehicles, such as bicycles, local delivery carts and compact enclosed cars have and will to continue to have a secure place in the mix.
The absurd losses of energy with petroleum fueled engines, along with their poisonous pollution, should have led to better sollutions a long time ago. Hydrogen might save recips; that remains to be seen.

Ahem.....where shall we begin?
Electric utility vehicles have been around for a long time. (Sports, janitorial, aqua-marine etc....) It's probably where people got the idea to try it with passenger cars. Yes I realize that Ford tried it a hundred years ago.

Despite a rather poor efficiency ICE's did provide the needed connection between sprawling suburbia and those who chose to inhabit it. The same cannot be said for EV's.

Are you now suggesting that society must collapse to meet the new standard? The resulting population density would create a civil engineering problem that woulf make ICE efficiency look attractive by comparison.

Life costs energy. Energy cannot be harnessed except by transaction. Transaction will always have reaction and consumption leading to increase of entropy and change of state. Can't be avoided.

 

[The Duke]

"EVs"? Oh, you mean oversized, overweight electric vehicles? Sure, they are going almost nowhere. Light vehicles powered by electricity are doing quite well.

Electric propulsion is viable up to about 1/2 the size of a car.

Any more weight and mass than that and it requires more power, more battery which means more weight, which needs more battery, which means more weight.

There's a power/weight ratio that needs to be kept in mind.

 

[The Duke]

Many options now. As I said, this was noted long ago.

For some odd reason it pisses you off that EV's are getting more affordable.

What's making them more affordable? The new 25% tariff on them and everything to do with them?

 

[Remodeling Maidiac]

It’s ironic, to say the least, that the U.S. is seeking to imitate China’s economic model at the moment that its industrial policy fractures. Look no further than its collapsing electric-vehicle bubble, which is a lesson in how industries built by government often also fail because of government.

Tesla last week slashed its prices in China to boost sales in an oversaturated EV market. In July Tesla and other auto makers in China agreed to stop their EV price war, only to scrap the cease-fire days later owing to government antitrust concerns. While lower prices may benefit consumers, auto makers in China are bleeding red ink and going bust.

A plethora of Chinese EV start-ups launched in the past decade, fueled by government support, including consumer incentives and direct financing. Auto makers churned out EVs to suck up subsidies. Giant property developer Evergrande Group launched an EV unit as its real-estate empire began to implode, but now the EV unit is foundering too.

About 400 Chinese electric-car makers have failed in the past several years as Beijing reduced industry subsidies while ramping up production mandates. Scrap-yards around China are littered with EVs whose technology has become outdated, redolent of its unoccupied housing developments created by government-driven investment. […]

Cox Automotive reported this month that EV inventory had swelled to 103 days of supply in the U.S., about double that of gas-powered cars. Auto makers and dealers are discounting EVs to sell their growing supply. The average EV price paid by consumers has fallen 20% compared with a year ago to $53,438, driven by Tesla’s price cuts and dealer incentives.

Ford recently reduced its EV production targets as its losses and unsold inventory grow. At the end of June, it had 116 days of unsold Mustang Mach-Es, and GM’s electric Hummer had more than 100 days of supply. And this is in a growing economy.

Traditional auto makers will have to raise prices on gas-powered cars to compensate for their EV losses. A United Auto Workers executive said Sunday that Stellantis is threatening to move production of its Ram 1500 trucks to Mexico from suburban Detroit, no doubt to reduce costs. The EV jobs President Biden touts will come at the cost of union jobs building gas-powered vehicles.

Meantime, EV start-ups are floundering as interest rates climb, and they struggle to scale up manufacturing. Lordstown Motors filed for bankruptcy in June. Nikola Corp. warned this year that it had “substantial doubts” about its ability to stay in business.

MSN

Socialists love controlling every facet. How many staples to make for staplers. How many potatoes to grow for the peasants. What kind of transportation the peasants must use.

I see hundreds of these Teslas every week in my commutes here in KC. Even a few ugly ass cyber trucks.
The funny part about it all is Evergy, local energy company, just MAJORLY raised rates.
Some plans have nearly doubled during peak hours.
It was so bad the state sued them to protect the poor and are now suing them AGAIN for false rates

 

[Cellblock2429]

I see hundreds of these Teslas every week in my commutes here in KC. Even a few ugly ass cyber trucks.
The funny part about it all is Evergy, local energy company, just MAJORLY raised rates.
Some plans have nearly doubled during peak hours.
It was so bad the state sued them to protect the poor and are now suing them AGAIN for false rates

/—-/ The unintended consequences of liberalism.

 

[Weatherman2020]

I see hundreds of these Teslas every week in my commutes here in KC. Even a few ugly ass cyber trucks.
The funny part about it all is Evergy, local energy company, just MAJORLY raised rates.
Some plans have nearly doubled during peak hours.
It was so bad the state sued them to protect the poor and are now suing them AGAIN for false rates

I bought a Tesla truck this weekend. Babe magnet.