Re:The Collapse of the EV SPACs: Another One Goes Bankrupt, ...
by another2another on Thursday August 10, 2023 @06:13AM
(#37074130)
'legacy automakers' have been making EVs and Hybrids for years, and even long before Tesla was a thing (I've been to Geneva motor show enough times to have seen them).
What they have been doing is milking their petrol & diesel markets for as long as they possibly can. Why cannibalize your existing market for EVs when you're still selling plenty of the old cars, until you have no other choice?
Once they can't make money off petrol anymore, those companies will very quickly pivot to EVs and are currently more than technically capable of doing so. And they'll say 'thank you very much Elon for educating the public in what it means to be an EV owner, and what infrastructure is needed to support them. We'll take over from here'.
What they have been doing is milking their petrol & diesel markets for as long as they possibly can. Why cannibalize your existing market for EVs when you're still selling plenty of the old cars, until you have no other choice?
Once they can't make money off petrol anymore, those companies will very quickly pivot to EVs and are currently more than technically capable of doing so. And they'll say 'thank you very much Elon for educating the public in what it means to be an EV owner, and what infrastructure is needed to support them. We'll take over from here'.