The great EV pullback has begun. Automakers are canceling or delaying new EV models amid political whiplash after the signing of Trump’s bill. Meanwhile, China’s EV market continues to grow. China’s EV market is seven times larger than the US, with the lead widening every year.
Source: mafco
5 Comments
Europe is going to EVs also. South America might be next.
10 years from now US automakers will be irrelevant for the global scene
Absolute insanity. What an own goal.
These is just too much investment in the petrochemical markets to allow it to be superseded and replaced with competing technologies. Only when it becomes absolutely impossible to justify the clinging on to the current day equivalent to horses and steam will investment flow to the obviously better alternatives market. It will likely be a painful and frustrating transition for those who don’t have financial stake in keeping the fossil fuel industry alive. This is the cross that western societies are willing to die on.
We have morons in politics that think coal jobs are the next big thing in town. Meanwhile China has been forced to deal with pollution issues for decades and every time they have stepped up for the Country. During the same time frame we have spent billions on war overthrowing one country after another for oil reserves. While fighting any advancement that might take away fossil fuel subsidies. We spent our time and money being 20 years behind China. The space race in the 60’s was the last time we led in anything in the world.