Essentially, BNEF estimates that the 14 automakers who had made EV goals for 2030 will now produce a combined 23.7 million electric cars that year. That’s down from the 27 million they would’ve sold had they stuck to their targets as of late 2023.
Other interesting data:
> Electric vehicles are no longer only a wealthy country phenomenon. Developing economies like Thailand, India, Turkey, Brazil and others are all experiencing record sales as more low-cost electric models are targeted at local buyers
> EVs of all types are already displacing 1.7 million barrels per day of oil usage, equivalent to about 3% of total road fuel demand.
Difficult-Yam-1347
So why are we putting 100% tariffs on Chinese EVs to protect western car makers that can’t bothered to make EVs in the first place?
TeslaJake
Handing the future to China without even putting up a fight.
WombRaider_3
Man, they were right when they said that EVs are a reset on what we know as the big automotive brands.
10 years from now it’s all going to be redrawn and don’t be surprised if you see those who bet on EVs early take a majority market share. Looking at you Hyundai.
baconkrew
That’s just the market being efficient
Comrade-Porcupine
There are still no mass market affordable EVs on the market in North America. It’s all luxury class pricing. Gee I wonder why they’re not selling.
My Volt just got totaled and I’ve been looking for an affordable EV replacement for it. It’s ridiculous out there, nothing has improved in this market in the 7 years since I settled for a Volt because there were no EVs for sale in Canada under $50k CAD that weren’t low range units with poor battery temp mgmt, like the Leaf. (at that time the Bolt was unobtanium from dealers… and in the intervening years it’s been cancelled)
Almost everything for sale is an SUV. Luxury trims, giant iPad head-units. Blah blah blah.
So here we are. Consumers can’t afford this, especially with high interest rates on loans. And just when affordable options looked like they might enter the market, via China… well that ended quickly.
and-its-true
The experience of owning an EV just isn’t mainstream-viable yet. People without off-street parking can’t charge at home, and the public charging infrastructure is still pretty poor. The technology and experience needs to improve and that’s all there is too it, really.
I think the government should probably spend less time/money trying to incentivize the purchase of EVs and more time/money trying to incentivize the creation of convenient and reliable charging. If they can do that, the sales will improve on their own.
A huge help IMO would be to incentivize businesses to provide charging at work as an employment perk. This is something that could also be handled through tax incentives etc.
Hairbear2176
Something I rarely see mentioned is that US EVs are expensive. IMO, people want EVs, but they’re too damn expensive, and people are strapped for money right now. It doesn’t help that the US charging networks are a mess, and of course anti-EV propaganda.
8 Comments
The source references the [Bloomberg Electric Vehicle
Outlook
2024](https://about.bnef.com/electric-vehicle-outlook/).
Essentially, BNEF estimates that the 14 automakers who had made EV goals for 2030 will now produce a combined 23.7 million electric cars that year. That’s down from the 27 million they would’ve sold had they stuck to their targets as of late 2023.
Other interesting data:
> Electric vehicles are no longer only a wealthy country phenomenon. Developing economies like Thailand, India, Turkey, Brazil and others are all experiencing record sales as more low-cost electric models are targeted at local buyers
> EVs of all types are already displacing 1.7 million barrels per day of oil usage, equivalent to about 3% of total road fuel demand.
So why are we putting 100% tariffs on Chinese EVs to protect western car makers that can’t bothered to make EVs in the first place?
Handing the future to China without even putting up a fight.
Man, they were right when they said that EVs are a reset on what we know as the big automotive brands.
10 years from now it’s all going to be redrawn and don’t be surprised if you see those who bet on EVs early take a majority market share. Looking at you Hyundai.
That’s just the market being efficient
There are still no mass market affordable EVs on the market in North America. It’s all luxury class pricing. Gee I wonder why they’re not selling.
My Volt just got totaled and I’ve been looking for an affordable EV replacement for it. It’s ridiculous out there, nothing has improved in this market in the 7 years since I settled for a Volt because there were no EVs for sale in Canada under $50k CAD that weren’t low range units with poor battery temp mgmt, like the Leaf. (at that time the Bolt was unobtanium from dealers… and in the intervening years it’s been cancelled)
Almost everything for sale is an SUV. Luxury trims, giant iPad head-units. Blah blah blah.
So here we are. Consumers can’t afford this, especially with high interest rates on loans. And just when affordable options looked like they might enter the market, via China… well that ended quickly.
The experience of owning an EV just isn’t mainstream-viable yet. People without off-street parking can’t charge at home, and the public charging infrastructure is still pretty poor. The technology and experience needs to improve and that’s all there is too it, really.
I think the government should probably spend less time/money trying to incentivize the purchase of EVs and more time/money trying to incentivize the creation of convenient and reliable charging. If they can do that, the sales will improve on their own.
A huge help IMO would be to incentivize businesses to provide charging at work as an employment perk. This is something that could also be handled through tax incentives etc.
Something I rarely see mentioned is that US EVs are expensive. IMO, people want EVs, but they’re too damn expensive, and people are strapped for money right now.
It doesn’t help that the US charging networks are a mess, and of course anti-EV propaganda.