[bombcar]

Because for a long time the ICE manufacturers were making half-hearted play attempts at EVs, and Tesla came in and made real EVs and had a huge stock play related to that.

So now the ICEs are scrambling to catch up, and are doing so, but lots of money is flowing around hoping to be the next Tesla.

[asadotzler]

ICE is scrambling because ICE has 10 years left of new car sales in California (so the US basically) and Canada before laws prevent them from selling ICE. They aren't chasing Tesla, they're trying to prepare for the outlawing of their 100 year old products.

[sofixa]

> Because for a long time the ICE manufacturers were making half-hearted play attempts at EVs, and Tesla came in and made real EVs and had a huge stock play related to that.

And their sales were still dwarfed by legacy manufacturers, who then started paying attention and practically all of them have at least one EV model out there, often with new platforms/models being in the works.

[bombcar]

I suspect most of these EV startups are trying for that TSLA bump, and don't really care much that TSLA is almost inevitably doomed to stagnant stock returns for decades now.

Meanwhile the legacy companies will keep moving slowly along and produce vehicles. Some will die, some will merge, some will have wild successes.

But it's much different than Google et al because cars actually cost about as much to make and sell as they do to buy.