Wouldst Hemingway Buy A $$$ EV?

For whom doth the bell tolls, it tolls for EVs? Toyota’s chairman says “people are finally seeing reality on EVs” amid cooling US demand & a price war with China. He suggests global climate gurus are gonna have to find a different cash cow to ride to earth’s rescue.

According to the WSJ coverage: “Toyota Motor Chairman Akio Toyoda, when asked about electric-vehicle challenges including a recent lull in US demand, said the industry was coming to recognize that there isn’t a single answer to reducing carbon emissions. Toyoda has long argued the auto industry should hedge its bets by continuing to invest in hybrid gasoline-EVs & other options besides just EVs. ‘There are many ways to climb the mountain that is achieving carbon neutrality,’” Toyoda recently told an industry gathering.

Meanwhile, notes the WSJ, “From Tesla to Ford Motor, automakers in recent months have been issuing warnings about a sudden slowdown in consumer demand for EVs, which are generally more expensive than traditional gasoline-powered cars & need to be recharged regularly … Higher interest rates are making them more unaffordable for many & despite increasing discounts on plug-in models [as well as big tax credits from Uncle Sam] unsold inventory is starting to stack up at dealerships.” Also walking back their EV plans are GM & Honda as they “are ditching a partnership forged a year-and-a-half ago aimed at developing a line of lower-priced EVs.”

Davd Soul