Is the EV Bubble About to Burst?
Download MP3It's been a rough week for electric vehicles. Another article, this one from Baron, says that the EV bubble has popped. There's no denying the numbers, so this may be a temporary thing. It may just be part of the ebb and flow of a new technology rolling out, but there's certainly no denying the numbers.
Consumers aren't buying them, and dealers are starting to grumble about the fact that the factories are sending them too many EVs. They're backing up on dealers' lots, they're not selling, and they're cutting into profitability for car dealers. To the point that thousands of dealers signed an open letter to the government to say, "Hey, like, back off of this EV mandate, switching over."
At the same time, manufacturers are starting to shut down battery plants. They're starting to stop investment in electric vehicles, at least not so fast. The government is looking at some other alternatives where one of the requirements was that electric vehicles had to be produced in the U.S. Now they're saying, well, to get a credit, you can buy some Chinese-made stuff.
Electric vehicles hit a little bit of a wall. The question is, is it permanent? Is it just going to be a setback, and then they move forward again? I know you have opinions about this. Let us know in the comments whether or not you think electric vehicles are going to be a thing, or if it's just like a fad that people will look back on like a pet rock.