Why the electric vehicle industry's rapid growth projections have hit a major wall
The automotive industry once believed internal combustion engines would vanish by 2035. This video examines why that vision collapsed, exploring the gap between political mandates and consumer reality, and why manufacturers are struggling to make electric vehicles profitable.
Three years ago, major automakers expected to reach trillion-dollar valuations by pivoting entirely to electric vehicles. However, the industry is now facing significant financial strain, exemplified by Ford's $19.5 billion write-down. Despite extensive government subsidies, companies currently lose approximately $6,000 on every electric vehicle sold.
The transition has been hindered by high production costs that make these vehicles unaffordable for the middle class. Consequently, the European Union is reconsidering its planned ban on petrol-powered cars, signaling a shift away from the previous narrative of inevitable, rapid electrification.
