Together in Electric Dreams…as they turn to nightmares

ELECTRIC VEHICLE (EV) DEMAND CRATERS

Trying to get them to work better – An EV covered in solar cells at Automotive World 2024, Tokyo

• By the end of 2023, it took twice as long to sell an electric passenger car in the US as it did in January. Things are worse in 2024 as EV sales targets and production are cut. 
• Electric dreams are turning into nightmares. Start-ups are going bust and funding being scaled back, IPOs are being cancelled, and EV production cuts are being reported by the press.
• The relative winners may be the Japanese car makers that never took to EVs, and light runabout makers from China. Losers will be heavy US and European EV manufacturers and major battery makers.

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