The EV market is a bust

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This is not a joke. The grid cannot handle the demand from electric cars. People are having to charge them with gasoline generators.

March 11, 2022- by Steven E. Greer

First, huge Tesla announced on the January Q4 call that they could not make enough cars to meet guidance due to supply shortages. Elon Musk said that he would focus on making humanoid robots this year instead, which was just a distraction. Now, newly public EV company Rivian announced that they too cannot make enough cars due to supply shortages. Meanwhile, General Motors and Ford are having trouble with their own EV efforts, and I suspect they only pretended to make electric vehicles to appease the far-left.

In addition to supply shortages, I also think there is a lack of demand. People do not want that same battery-life-anxiety that they have with their iPhone. I think I represent a lot of smart consumers in that I have looked at EVs carefully and decided not to buy one yet. Until they make a car with batteries that can be removed and replaced with fresh new ones that hold a full charge (all batteries tucker out after so many charges), I am not going to buy one. The cars are also ugly and no fun to drive (I tested the new Mercedes EQS 450 and it was terrible. Only the Porsche Taycan was close to being a real car).

In addition to battery power not being ready for prime time, we do not have the electrical grid to support electric cars. California is already warning people to not use their electric cars during high electric demand periods. Electric vehicles will never be a replacement for gas engine cars anytime soon. I estimate say that it is a 10-year infrastructure problem that needs to be fixed before we can even think about having more than 50% of the cars on the road being electric.

This electric car market reminds me of the legalized marijuana market. When states started to legalize marijuana years ago, we thought there would be a whole new industry created. Instead, it fell flat due to a lot of problems, such as the cash not being able to be put into a bank. Marijuana is also unsafe. Both the EV market and marijuana markets were forced upon us by liberals with ideological agendas. Both failed when they had to face reality.

Update April 18, 2022-

  • Rivian CEO Warns of Looming Electric-Vehicle Battery Shortage – WSJ

Update May 12, 2022-

  • Rivian recalling EV trucks. Stock crashes

Update June 16, 2022-

  • Tesla, Lucid and NIO Fall as Jefferies Cuts Global EV Sales Estimates- Shares of electric-vehicle makers such as Tesla, Rivian and Lucid were tumbling early Thursday after analysts at Jefferies lowered their global EV sales estimates for 2022 and 2023.  The reduced forecast reflects a “slower-than-expected market recovery” across the U.S.
  • Ford Pulls Plug on Pete Buttigieg’s $44K Electric SUV (Made in Mexico)- Automaker recalls 49,000 vehicles due to safety defect that ‘could cause a crash’

Update July 13, 2022-

Update August 3, 2022-

  • EV Maker Lucid Cuts Production Outlook in Half- Luxury sedan maker cites supply-chain and logistical challenges as well as internal bottlenecks

Update August 6, 2022-

  • Fox Business’ Charles Payne explains how the strip mining for lithium needed to meet 2030 estimates will destroy the planet. The same green movement also downplays how planting trees can cut CO2 emissions. Electric cars are part of a global power grab agenda and has nothing to do with saving the earth.

Update October 26, 2022-

  • Tesla is down 50% this year ($400 to $200). Even I did not see that coming.
  • GM Dials Back EV Sales Target, Following Upbeat Earnings Report- Auto maker posts 37% jump in quarterly profit while warning battery-production challenges could slow electric-vehicle rollout

Update December 28, 2022-

  • Tesla is down 70% this year. (Stock at $100)
  • Tesla at lows not seen since the pandemic began in 2020.
  • Tesla stops making cars in China due to lack of demand.

Update March 23, 2023-

Update July 6, 2023-

  • The Telegraph- The electric car ‘revolution’ is a disaster before it’s begun. Politicians are forcing electric cars on a public that doesn’t want them
I met Elon Musk in 2014 when he was driving his cars across the country. We spoke and I produced a Fox Business segment for him. This is a photo from then.

This entry was posted in Environment and Climate Change Essays, Political Essays, TechLash Essays, Wall Street, Wall Street and Real Estate Essays. Bookmark the permalink.

3 Responses to The EV market is a bust

  1. Charles says:

    As an engineer, I always thought that promoting electrical cars without first addressing the electrical infrastructure necessary to power them was absolutely foolish. People were really reacting purely out of emotion when they objected to the use of nuclear power plants. In terms of power production, power reliability, and even impact on the environment they’re much safer than other forms of electricity with a possible exception of hydroelectric.

  2. Editor says:

    The Japanese near Fukushima and Ukrainians near Chernobyl might have a different opinion

  3. Kaite says:

    What you “save” on fuel, you pay thru the nose IN ADVANCE for EV’s. Install plug for house: $13K. Buy power cord…$2K. Made of money ya know.

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