Economics · Elites

The EV-Industrial-Complex is Imploding

I wrote about Tesla in the past. In short, they are not doing so well. Their Q1/2024 was horrible. You can find videos showing that they hide their oversupply of cars in remote parking lots and unused airfields. One of the other US manufacturers of electric vehicles, Fisker, is doing even worse. They recently filed for bankruptcy.

There is probably a wider societal phenomenon at play here. First, more and more people are realizing that man-made climate change is a hoax, which undermines the EV narrative. Second, the cost of EVs is high. Third, their resale value is poor. Of course, their resale value is poor because demand has been artificially propped up by government subsidies. These EVs, however, do not make a lot of sense compared to the ease and convenience of an internal combustion engine. In addition, we are witnessing serious opposition to the United States on the world stage. In the US, the government props up Tesla via subsidies as well as banning the import of Chinese-manufactured EVs, which are a lot cheaper and also, supposedly, of a better quality. In the European vassal states, there are heavy import tariffs on Chinese EVs, but Teslas are still not selling.

I think we will see people getting more and more fed-up with leftist policies, including the climate change nonsense. As governments also have to deal with increased interest rates, they can no longer so lavishly subsidize Tesla, and surely Uncle Sam would not threaten to throw bombs on Europe in an attempt to increase Tesla subsidies. It would not completely surprise me if they did, but so far, this is clearly not on the table.

In the long run, people will reject what they do not want. Governments can sweeten the deal, for instance by subsidies, or, in the case of illegal mass immigration, massive social engineering, but at some point there will be a backlash. If people cannot afford Teslas they are not going to buy them, and if governments run out of money, they have to lower subsidies. I am not entire sure what the end game is. If I had Tesla stock, however, I would sell it. (This is not investment advice.)

2 thoughts on “The EV-Industrial-Complex is Imploding

  1. EVs ironically enough are far worse for the environment than ICE vehicles. Lithium mining and battery production products extremely toxic biproducts. I’m sure you’ve also heard of the Toyota new V6 engine disaster due to “green policy” of putting turbochargers on smaller engines due to emissions rather than a proper V8 .

  2. In Commiefornia, every time there is a heat wave, all the elites like nasty newssome complain that the poor are using too much electricity with their AC and that they need too sweat too save the poor power grid. Imagine everyone has an electric car and they all have to charge up at the same time too go too work. (And have you noticed how that fraudster Elon Musk is against WHF even though he ain’t in the office making babies with questionable broads!)

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