by theluckycountry » Fri 16 Aug 2024, 04:22:47
Heads should roll over the electric car fiasco
Policymakers have wasted billions chasing a net zero pipe dream. It is time they were held accountable
$this->bbcode_second_pass_quote('', '2')7 July 2024
Profits at the German auto giant Mercedes plunged on Friday as sales of its slick new range of electric vehicles (EVs) went into freefall. Porsche abandoned its sales targets for battery-powered cars amid waning demand from customers. Ford is losing nearly $50,000 (£39,000) on every EV it sells, while Tesla’s profits dropped 45pc. Meanwhile, battery manufacturers such as Germany’s Varta are getting wiped out.
Over the last few days, it has become clear that the EV industry is on the brink of collapse. Hundreds of billions of euros, dollars and pounds have been pumped into this industry by political leaders and the subsidy junkies that surround them – and it is surely time they were held to account for the vast quantities of taxpayer cash that has been wasted.
In the last few days alone, there has been a steady stream of bad news from auto manufacturers. Mercedes, the company founded by Gottlieb Daimler that pioneered petrol driven cars, is struggling to replicate that success in the battery version. Group net profits were down 21pc on Friday, mostly on falling sales of its new range of EVs. Earlier in the week, its great rival Porsche watered down plans for its electric models.
Across the Atlantic, Ford reported that profits were down by 35pc in the latest quarter amid losses in its EV unit. And Tesla slashed prices and offered generous financing deals to try and revive flagging demand.
Tesla's global sales go into reverse
Lion’s share of EVs are made in China
https://www.telegraph.co.uk/business/20 ... ar-fiasco/So it's over for the West and China is flooding the global market with their cheap garbage.
I was at a bike shop today, organizing a performance upgrade on my
premium Japanese sport tourer. In the carpark I heard some guy raising his voice and looked over to see a mechanic and the workshop manager standing beside a trailer on which was a CFmoto Quad bike.
The owner had purchase it recently for light duty on his dairy farm and brought it back with a broken front axle leaving it in 2x2 mode with lots of grinding going on. He wasn't happy but I had no sympathy. Suck it up you old fool, you thought you'd save a couple of grand and didn't realize that the Chinese make garbage automotive. F@#* All R&D and their materials come out of smelters full of used washing machines and microwaves. Only the Japanese and Europeans use proper metals, quality first use steel and aluminum. My bikes have Titanium components, you'll never see that in a Chinese vehicle.
CFMOTO is a global manufacturer based in Hangzhou, China.
We have known for 20 years and more that Chinese is crap but no one calls it out, they probably don't want to be labeled "racist." Other fools chant the meme that "China is just like Japan and in decade..." Well that wore thin about 15 years ago! No, the simple fact that China is now the World's ONLY viable EV maker is truly a terrible sign for the industry. It points to the fact that they were never viable, were always just a money grab, a shell game the operators have now closed down before the masses stuck with all these dogs come to the realization that in 8 years from new they will be albatrosses, that even a wrecking yard wont want to touch.
How dumb did you have to be to believe all the Lies surrounding these mobile ipads? The Stupidity of the average consumer knows no bounds and this is true, but to get conned into an EV? That's a whole other level of gaslighting.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.