A video from The Electric Viking.
- China's reached 50% market share for EVs and plug-in hybrids (PHEVs). Already. And the rate of growth suggests 70% market share next year and 95% the year after.
- Battery pack prices have halved.
- There is huge oversupply of EVs in China because of how weak the Chinese economy is.
- Chinese buyers don't trust legacy carmakers to get EVs right, and so won't buy from them.
- EV prices are being slashed in China.
- Chinese profits buoy up Western legacy carmakers profits. If China is unprofitable, then they're in trouble.
Conclusion: Western legacy carmakers are in serious strife. And, logically: Chinese EV manufacturers will turn to exports to survive. Which suggests legacy carmakers aren't safe even in their home markets.
Oh, and EVs/PHEVs continue to head inexorably towards market dominance.
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