keep defying almost everyone’s predictions.” Tesla’s stock plummeted in 2022 but EV sales were up 60 per cent. Their market share has tripled since 2020. In Norway, four out of five new cars sold are EVs. Chinese sales doubled in 2022. Etc, etc. In sum: “eye-popping growth” that is “dramatically faster than most analysts were projecting just a few years ago.” The piece was a big hit in progressive circles. The EV future apparently is now.
Here we are in 2023. EVs have been subsidized, generously, for many years now. New gas cars will be illegal in some jurisdictions in just seven years, in this country in just 12. And the global stock of electric vehicles is onlyper cent? Yes, the margin may be a guide to the future, but still: two per cent? From that perspective, the current EV hype is almost Trumpian.
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Source: financialpost - 🏆 7. / 85 Read more »