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More Bad News on the Electric Vehicle Front

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Posted By: DVC, 7/11/2024 5:44:28 PM

Suffice to say, all is not well for the Electric Vehicle (EV) industry these days. Despite ample subsidies from the federal government, EV sales are slumping. Some of the largest automakers, such as Mercedes Benz, admit they won’t come close to hitting their EV sales estimates over the next few years. And Tesla, the king of EVs, just announced its lowest quarterly profit over the past two years. After the Tesla news broke, the company’s shares cratered, leading to a $138 billion decline in value. Even worse, Hyundai Motor North America is facing a lawsuit that contends the auto manufacturer “has emphasized sales-volume growth

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I'd call it GOOD NEWS for sanity and rationality.

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Reply 1 - Posted by: franq 7/11/2024 6:01:37 PM (No. 1754604)
Government involvement ruins every business opportunity.
15 people like this.

Reply 2 - Posted by: Venturer 7/11/2024 7:25:26 PM (No. 1754648)
I cannot understand how intelligent CEO's of automobile companies fell for this stupid EV farce. Pretty sure EV's will eventually come about, but only when they are comparable with a good ICE car. When they have a solar panel mounted on top that keeps them moving I might buy one myself.
7 people like this.

Reply 3 - Posted by: Strike3 7/12/2024 3:53:04 AM (No. 1754759)
How is that bad news unless you are Pete Bootyjudge or a member of the Cult of Green? The vehicles are a failed experiment, the infrastructure was paid for but not built and the driving public is stubbornly sticking with common sense. Forcing working taxpayers to subsidize this fantasy is criminal.
3 people like this.

Reply 4 - Posted by: privateer 7/12/2024 8:05:10 AM (No. 1754820)
It makes sense that EVs are a favorite with Leftists. Two of their cardinal principals are at work: Something For Nothing, and Save The World. They foolishly believe the electricity from the chargers comes from wind or solar, so basically 'free'. And no ICEs, no pollution. But the World needs to be Saved From Them!
3 people like this.

Reply 5 - Posted by: felixcat 7/12/2024 9:16:28 AM (No. 1754857)
I just don't understand the high value of Tesla stock. Get rid of EVs and bring back V-8 engines.
3 people like this.

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