> Good. This was an idea that never made any sense to me. It’s high overhead/low-margin and requires infrastructure, sales and after-sales support that just aren’t aligned with how Apple does business.

Right. The electric car business took a wrong turn when most of the players decided that electric cars were a premium product that could be sold with huge margins. Tesla started there, and it seemed to be working for them. This led to excesses such as the electric Hummer, a 9,000 pound vehicle with sports car acceleration and a price in 6 figures. It's a great engineering achievement but a silly product. It also led to electric versions of vehicles having a price premium around US$10,000 over the same model with internal combustion.

Then Tesla exhausted the fanboy market. Reality ensued. Price mattered. Tesla had to start offering discounts.

This is a big problem for some major car companies that bought into the high margin myth. Ford should have known better. Stellantis' CEO was running around saying that they were going to get margins like tech companies, partly by adding on aftermarket fees. That didn't work out.

Electric cars are doing just fine, and prices are coming down. That's a good thing. BYD gets this.

Having to compete on price scares Apple.