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by bruce511
2 hours ago
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Because they are focused on short term returns, not long-term strategy. In the short term cutting r&d, killing off "not yet profitable" lines etc all lead to improved results this quarter. Who cares about 5 years, or 10 years from now? If you look beyond the US then you see EV market share growing year on year. Yes, the US is resisting hard, but you can't hold back the tide forever. Kodak invented digital photography, but kept going with film. In the end the world moved on, even if they didn't. 50 years from now ICE will be a niche market. And if US producers want to own that niche, well that's great. But it'll be a tiny fraction of what they are now. |
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EVs are roughly at two thirds market share in the largest car market of the world. The third largest market has them at 20%. Funnily enough, India (4th largest market) is slightly ahead of the US for EV adoption in passenger cars.
ICE cars will be a niche market much more rapidly than 50 years.