Saturday, May 25, 2024

Failing EV Industry Is A Lesson To Businesses; Never Underestimate The Power Of Consumers

The great electric revolution that was promised just three years ago is already failing - and it will bring the car manufacturers down with it.

The slowing EV momentum led Rishi Sunak to drop his target of banning new petrol car sales by 2030 and push it back to 2035.

Even among households which have off-street parking, only 8 per cent say that it's likely they would buy an electric car as their main vehicle during the next five years - although 20 per cent said they would consider one as their second vehicle.

Electric cars have found a niche as second cars for relatively wealthy, environmentally aware households.

Forcing consumers to pay over the odds for cars would lead to an electoral bloodbath, however - which is why, unless there is a sudden rush of interest in electric cars over the next few months, the government is likely to yield.

Worse, Chinese-made cars are manufactured with a far dirtier mix of electricity than UK-made cars are.

The government may well tinker with the ZEV before the year is out, but it is unlikely to admit to this greater folly, that the much-heralded switch to electric cars is likely to destroy our car industry, drive up costs for motorists - and fail to cut global emissions. 

https://expose-news.com/2024/05/25/failing-ev-industry-is-a-lesson-to-businesses/

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