EV Transition: Too Fast, Too Pricey, Too Soon?
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- čas přidán 9. 07. 2024
- Electric vehicle demand in the US is slumping in 2024, causing US automakers to slash prices, introduce more mass market models, lay off workers, and even go into plug-in hybrids. Car czar Steve Rattner, whose Willett Advisors manages the personal and philanthropic assets of Michael R. Bloomberg, says that US automakers were trying to avoid the mistake they made with compact vehicles. J.D. Power Vice President of Electric Vehicle Practice Elizabeth Krear says that plug-in hybrids could serve as a gateway to EV adoption, and Rep. Haley Stevens of Michigan says that the transition to EVs cannot happen without the role of labor.
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BYD is half the price of US EVs. Also there is no range anxiety with new models with 400 miles range. Detroit hasn’t even tried!
A typical gas car goes to 500 miles at least. When it goes to 500 miles, maybe I’ll consider it. Aside from the safety concerns of EV catching on fire spontaneously and putting your life at danger anytime
@@georgemaximus694 the battery tech is the same as most wireless devices I.e. power tools, phones, shaving machines etc…
@@georgemaximus694 gas cars have a tank filled with explosives - you should worry more about that.
@@georgemaximus694 500 miles?.. my subaru gets 19 mpg and 230 miles a full tank
Is BYD we’ll built? Well it’s made in China so..I don’t know. Credibility isn’t there yet.
Too soon for you but not for China
Chinese govt build super fast charging stations nation wide in China. And their every day EVs are like 12k USD. Half ass efforts in the USA cannot compete with that.
If EV in America cost 12k for a new car, and if it was safe and wouldn't burn down your house if you parked it in your garage, the uptake would be huge.
I would buy a safe EV if I could get one at a good price (20 - 30k max).
There is too much support for EVs in the US.
@@john_doe_not_foundBut Tesla's are burning up and they don't cost less than $20000, which is the big problem.
@@john_doe_not_foundit's a old thinking about burn out, please travel to China or Asian countries to see different about EV
@@nicksonsicnawa9607 Westerners hate EVs because they can't make them...
Why are you talking about GM, TESLA started the transition to EV's.
GM, Ford is everything wrong with US automakers! Tesla is the way to go for next 10 yr
For me the most interesting thing about EVs is the maintenance cost. A fraction of ICEs. If you are leasing that doesn’t matter but if you are keeping your car for 6-8 years, that makes a lot of difference. Legacy manufacturers are desperate to know what they’ll do with their dealers.
And EVs are far from being fully optimized. Right now they still use some parts based on ICE cars that could be replaced by new designs that would be cheaper, simpler, lighter, and more reliable.
Why are there constantly reports of EV's having reliability issues?
@@arthurmroyce If you are talking about that report from Consumer Reports, that result was mostly due to many EVs being made by startups, companies that are learning right now how to build a car. And the reliability issues were outside the drive train, and thus weren't related with the fact those cars were EVs.
A more recent report, BTW, made it clear that the company with the cheapest average maintenance costs for the first 10 years of their cars is Tesla - a company that makes EVs exclusively.
"I'm a market guy...lets add a large tax on gasoline"...WTF?
Only fools believe in non interventionist policies.
Yep. He and all the others in this propaganda piece.. big market people...Yah, right!
They should I got 2 V6 cars and 1 Mercedes. But I put a lot of money on lithium investment
Anything to keep those legacy auto manufacturers in business. Still pissed Musk bought Twitter? 😂
All cars got expensive. The average price of all cars is in the high 40s now. There are now lots of selection on EVs below that center line. It's not just that EVs got cheaper at the same time non EVs were getting more expensive and options for cars were taken away (Ford for example). The challenge is for non home owners as far as charging. Some travelers rent a car anyway so the wear and tear and mileage is not on the car they plan to resale or trade in. So vacation is not really an issue but if you don't have a place to charge at home every day that is. EVs need to be charged where they are parked.
Sales of ALL new cars are down.
Nope. Sales are higher in 2024 for all new vehicles thus far.
If BYDs are sold in Canada I am buying tomorrow
I have a 2023 luxury SUV. It was much cheaper than a comparable Tesla - including the cost of fuel. I love it. It has the equivalent of “FSD” for highway travel. I happily stop at the gas station for 5min to fill up. It’s wonderful.
I think you forgot your sarcasm font....
I have a Tesla Model Y. It cost $40k. I charge it at home on DIY solar for drive for FREE. We also have an old dodge Ram 1500. Driving that now and having to stop at the gas station and put $80 is like going back to the stone age. NEVER going back to ICE.
😂😂😂 Bullsh$t! Tell us about paying double the insurance cost, tells about your yearly road tax bill, tell us about those pricey tires you need to replace constantly because of the consistent torque. I have an EV, taking all that into account plus the higher price tag, there is absolutely no savings. I have solar too.
@@justtestingonce OK, lets talk about your list:
1. Insurance was $1,300 for our Jeep, now its $1,600 for the Y.
2. No road tax yet, although I would not object to that since I no longer pay gas tax and we do need to build and repair roads.
3. Tire replacement will depend on how you drive. It is the fastest car I have ever driven so I would imagine that I may have to pay for that thrill. Worth it!
Now, lets talk about:
1. No oil changes
2. No brake pad replacement
3. No transmission repairs
4. No air filters
5. No spark plugs
6. No mufflers
7. No engine repairs
8. NO GAS BILL ($3,000/year)
9. You get the idea...
BTW: the battery is expected to last 300k miles and has warranty for 8 years.
Not to mention: The car literally drives itself!
@@HomesteadEngineering who is your insurance through, Tesla? You’ll get a road tax bill year end. The EV tires is due to instantaneous torque, they wear out so quick, three times faster than a gas car and are so expensive, imagine the big rig cybertruck 🤦. Your $3000 a year gas saving is wiped out by your $3600 extra insurance bill. Plus you forgetting the premium you pay for a Tesla vs a gas car that is more spacious than a Y. It just doesn’t add up.
Agreed. After I drive an EV, I will never drive an ICE car again.
@@jogana6909 until you on a road trip and your bike rack causes so much resistance that the EV can’t predict your battery level between charging stations. If you ever see a Tesla drafting behind a big rig, now you know why. My advice if you have a family, you have to have both, EV on long trips is a pain in the butt. The tow truck drivers in Vegas make a lot of money from the LA EV crowd.
The transition in infrastructure is too slow.
It’s intentional in the US.
Hybrids have been around... but plug-in hybrids have been relatively niche up until the last few years.
Hybrids are a scam. A car needs only one engine to move, they sell you TWO 🤑🤑🤑
BYD EV cost 10.000 dollar. Wuling Bingo cost 10.000 dollar. That is not expensive. Cheaper than ICE.
BYD will be banned in the USA. byd will make millions of very good inexpensive EVs that Thais, Brazilians, Britons, Aussies, Chinese, Mexicans and others will love. If Europe is ahead China is light years ahead.
Note Chinese cars use LFP batteries that can be charged to 100% and drained to almost zero without battery degradation.
“In the U.S., there are 2,234 Tesla Supercharger stations with 25,156 Tesla Supercharger ports.”
Motley Fool
At home I charge on the Sun thanks to Tesla. I drive anywhere in the US without worry. My Model Y knows where I need to stop and for how long!
Hybrids are very complex. BEVs are simple!
"The simultaneous growth of electric cars and AI, both of which are creating a tremendous demand for electrical equipment and electrical power generation will run out of electricity and transformers in 2025"
That is a statement Eron Musk made this year. What is he doing in light of the problems he/we will face next year?
What a joker Steve is
“ a free market guy - so what the government should do is tax the hell out of what consumers actually want to subsidise what the government wants us to do”
You don’t believe in markets you believe in big government
I’ve driven EV’s for the past 8 years, and only own EV’s, and love them, would never consider driving an oil-fueled car again. EV growth will continue to grow, right now, all vehicle sales are down, but will go up again.
um, not this time, things about are about to get much worse, the poor and middle class can't afford s***!
Too soon? We are at least 50 years too late 🤬🤬🤬
If they make them affordable ill consider one. As of today EVs are luxury products
Going all EV in Europe is one thing, but doing the same in the states is a different story. Texas is bigger than Germany so building a EV infrastructure in Europe is a lot easier and a lot less costly than here in the states.
How about asking about electricity supply for EV's, data centers which use equivalent to 80,000 homes' electrical use and the homes changing from gas to heat pumps
? There is not nearly enough electricity supply. Cost is at least $8 trillion dollars utility expansion. We have the cart before the horse. 😊
European here. Our gas tax is more like 4$/gallon to use your units.
Released 4 days prior to Tesla Q1 earnings call. Maybe they should do a follow up. OEM who have the ability to manufacture affordable EV’s. There are only 2 or 3 globally and the only US is Tesla the others are all Chinese.
Charging infrastructure must have Biden industrial policy makers salivating.
Murikans like you are what is making Murika go backwards towards oblivion or at least civil war.
I'd look to the *Electric Viking* for more reliable coverage.
Global EV sales are up 25% YoY from 2023. But the US is dragging their heels and being left behind. If American auto producers want to end up behind Chinese and other global auto producers, they should definitely slow-play the EV transition. And Americans should absolutely avoid buying EVs now so that we can let the rest of the world enjoy the benefits without causing a drain on EV availability for everyone else. It appears that our goal is to finish last, so.... Well done US!
Exactly what legacy automakers want to hear, especially Toyota, but who cares? and who ask yours opinion? the market will decide what ever you like it or not.
Its not range anxiety. it's charge anxiety. People would care alot less about range if the EV's could charge in 10 mintues or less.
China has cheap high speed rail networks that take care of long distance travel nationwide. So EV covers mostly short distance urban commute which is EV's sweet spot. (numerous short trips create most efficient usage for EV) Americans on the other hand LOVE long haul travel and haul a lot too, which is worst EV can offer with terrible efficiency and range! To have an EV transition strategy, US needs very smart visionaries to plan it as a nation, not as a company (just think of US interstate highways system) One Elon working for one company would not cut.
These people are off base. The main problem is only Tesla has a price effective battery car, and it’s barely cost effective. The market needs a $20k BEV.
Only China can provide a vehicle that cheap, but our government won't allow that.Because I think it would take away market share from our own car makers
@@teebone2157 maybe partially true. China does follow the minimalist path when it comes to low end BEVs. The labor costs are lower too but much of that is negated by transit costs and increased Chinese salaries. Musk doesn’t say so but he knows he would have to sell cheap cars at low margins- probably in the order of 8%. He banking future growth on FSD as the cost of capital is low. . A very risky proposition.
@@teebone2157 Musk hasn’t learned history well. The Japanese broke into the US market through the low end sector, as did the Koreans.
@@greghelton4668I do think that Tesla understands that, but you can’t start out of the gate with a low end car that requires mass production to be successful. You need to follow the adoption curve, which means smaller volume higher priced to start, targeting wealthy early adopters. This is basically what they have done.
@@chrisbarrese1757 Tesla is mature enough now to introduce a low end car. There are credible reports that there were intense debates between Elon and his executives about the near term viability of FSD band may have led to the exit of many of them. FSD seems to be a religion to Musk however and that is most likely the reason he doesn’t want to make a low end car. I hope they succeed with FSD but personally don’t think the hardware will be there. Most people think of it only as a software problem.
The only way EVs are going to happen is if combustion engine cars are taxed much much more so they are more expensive and if people overall drive less.
You americans don't have a brain, China over there selling cheaper than ICE.
Its same like bitcoin , phase 1 = early adopters..and then winter period...phase 2 = hype reignite once oil hit $100 again...phase 3 = mass adoptions due to greeen energy policy 🎉
The government has to do more to help to improve the infrastructure.
Without the infrastructure, I don't know how this is going to happen.
Money get printed, but all spent on wars. The government spend all the money on wars. Shipping out hundreds of billions to fund useless wars. Ukraine and now israel. Americans get nothing. Nothing is built. Imagine the amount charging infrastructures they can build with that hundreds of billions
Then let's build the infrastructure. Duh.
@@Tom-dt4ic Well dig deep
@@royprovins7037 Building EV charger and renewable energy infrastructure will save us huge money in the long run. That's generally how infrastructure works.
COMBUSTION ENGINES ARE BETTER FOR THE PLANET THE CARBONS COMBUSTION ENGINES SPIT OUT PLANTS LIVE OFF IT AND PUT OUT OXYGEN.
Uh huh all good stuff but according to its founder Tesla is a technology company that makes cars . But it’s not how most people think about this company.
This man claims to say that he is a market guy. And he is against government regulation, but in the same breath advocated for mandated by the government, higher gas prices. Talk about speaking out of both sides of your neck. The media is full of liars
Were you even listening??? In the case of externalities, meaning forces beyond the market, government intervention is appropriate so that everybody pays their fair share. Presently ICE vehicles do not pay their fair share for the damage they do to the envirnment and to our heath. Not even close.
@@Tom-dt4ic I don't buy that at all. Poor people and working class people will be hurt in a major way by forcing them to pay much for gas. Poor people can'd afford a new electric car that costs far more to insure and maintain, not to mention the added cost to put an electrical Level 2 Charger in their home. Oh wait, most people rent, so that might be out the question. You central planners are arrogant and suffer zero consequences for the pain you cause.
@@Tom-dt4ic Ah yes the old "fair share" freshman poly sci student argument
@@peterponcedeleon3368 Since when does an EV cost more to maintain, you're talking out your uneducated arse.
@@peterponcedeleon3368 Actually, Consumer Reports just released a report showing that the cheapest brand in the US to maintain, during the car's first 10 years, is Tesla. EVs are starting to prove themselves as reliable and with very little needed maintenance (which is kinda obvious taking into account all the systems that an ICE car needs but an EV doesn't).
As for the L2 charger, people who drive less than 80 miles a day on average should be able to get by with a L1 charger, which only needs a common power outlet. More if they spend more time at home than just their sleep time.
Price, though, might remain an issue in the US for some time, as it's blocking the import of cheaper Chinese EVs, and thus is allowing its lazy, incompetent car industry to remain sheltered and with little competition. That should last until automakers in traditional US allies who nevertheless didn't block Chinese EV imports figure how to compete and proceed to invade the US with much cheaper EVs than the US industry can make.
China remains ahead of the US in so many ways
I want a NIO
Just proves how old establishment does not want this msm does not like either
Murikans are just too backward and the legacy auto manufacturers too used to making ice vehicles, Murika is looking backward.
I told you so.
How many trillions of tax payers money they spent on Afghanistan? And no money to build charge stations?
Nit too pricey if u buy BYD.
Tesla is the best car company ever! No gas stations, No oil changes, No smog check, No corrupt dealership, No catalytic converter and as fast as a $550,000 Lamborghini.
Exactly
Not the Model 3 rwd standard range, bud vs the Lambo. Get real, Tesla fanboi.
@@thx1138guy If you go for a $100K Model S Plaid then it can consistently beat non-EV cars that cost far more than that.
The same goes for other EV brands with high-end sports cars, mind. A $135K (in China) YangWang U9 would also beat most supercars, including any and everything from Lamborghini.
@@thx1138guy Funny that you chose the cheapest Tesla (38k) to compare to a Lambo.
And depreciation at the rate of a laptop computer.
Why would anyone buy ev in US? the offerings are terrible. Let the Chinese in, then it will make sense
Everyone's buying Tesla’s in the US and around the globe. Model Y was the best selling car in the world in 2023. Best selling car not just EV. 2nd was a Toyota at half the cost
Tesla should be a contract manufacturer and make a Bugatti of EVs.
Excellent piece on EVs and their future by Bloomberg.
Trevor Milton to PRISON 😎.... Founder of HYDROGEN scam compagny Nikola Motor 😂😂😂
Let BYD sell cars in NA for 15k for a new car. And EV sales will take off.
However, BYD has so many safety concerns it cannot be sold in NA. They are fire hazards and their quality is absolutely untrustworthy. I would not put my children into a BYD, why risk my family to save a few dollars?
BYD cars regularly get five stars at the Euro NCAP, meaning they fulfill all European safety requirements and are certified by an European institution as some of the safest cars available in the market.
Tesla uses Byd blade batteries precisely because it's the safest battery tech available. Not to mention all their 5 star Euro NCAP safety ratings models. Cope harder.
@@kamsunleong6648 Which Tesla model TODAY uses blade batteries?
Toyota looking smart
😂😂😂Toyota = Kodak
Most people don't have the infrastructure in their local areas to support EV and n our government doesn't take part in progressing like China period apparently, all of our tax dollars are only good for subsidies and war, which is our biggest export.
Rubbish, I reckon everyone has a Power Point somewhere .
US needs higher gas tax because current 19 cents/gallon only pays for 50% of road maintenance/improvement expenditures. Gas tax fund runs a deficit of $15 billion per year. But EVs need to pay a road use tax also, maybe paying a fee at license renewal.
So many people have been saying the hard push for EV was to much to fast for years now. Glad to see the "experts" are starting to catch up to this.
EV to fight global warming is a dumb idea. You think the whole world is the US. You really think all the people in Karachi, Lagos Sao Paulo and Mexico City will be driving EVs in the next fifty years if ever.
You're dumb lol
They are driving EVs at a higher rate than Americans
People don't purchase big cars unlike USA
Yes I do. In fact they're already starting to drive electric motorbikes.
Probably, and those EVs will come from China.
@@metricstormtrooper Yep. I live in Brazil, away from the state capitals, and I'm already starting to see electric vehicles around, for the time being all of them BYD; a neighbor has a Seagull, I've seen a couple different Dolphins while driving around, and taxis/application drivers are starting to get EVs too because they save hugely on gas prices (it's literally 5x cheaper to run an EV here than an equivalent gasoline car for those that can charge at home).
In Mexico, BTW, by December 2023 about 20% of new cars sold were from China, many of them plugin hybrids or EVs. In Pakistan it appears that electric two- and three-wheelers - a better fit for the country's wages - are starting to displace ICE cars. And Nigeria, while lagging behind, has local assembly of EVs and government incentives for their manufacture and sale.
A more interesting African example, though, might be Ethiopia, which actually banned the import of any fuel-powered car. Ethiopia has cheap and plentiful hydropower and pays huge sums for imported fuel, so the government decided to essentially complete the EV transition, at least on the sales front, in less than a year by government decree. And while Ethiopia's charging infrastructure is lacking, its fuel distribution infrastructure is actually worse, meaning it's easier to charge an electric vehicle than to refuel a gasoline one.
Also, the US isn't the standard. Far from it, the US is actually a laggard in EV adoption among developed countries; its EV adoption rate is actually worse than the global average (though that average is getting hugely pulled up by China, which in the first half of April reached over 50% BEV+PHEV market share).
@@FabioCapela Ah yes, Ethiopia, and other government mandate nations. Their message to consumers: You WILL do as WE say, and you WILL be happy. Beatings will continue until morale improves.
Ev is the way... Way way faster . Younger does not want ice and do youre messy change oils.. honda coming to Canada biggest deal. Even third world countries are adapting to Ev. Good luck to Detroit
The EV craze is over. Hybrids are the answer. Toyota was right.
That's only for US. Don't include other markets.
@@markosmataasii2000 in europe after govenments lifted subsidies, market fell. EV's can't compete without tax payers money.
Toyota is always wrong lately.
@@viljamikoivunen6297ice cars only work because of subsidies for fossil fuel companies.
@@metricstormtrooper You are incorrect. Take a look at the facts: their financial results and the performance of their stock.
@9:40 name one thing the Democrats that have done that is good for anyone??!!!
Zero emissions before or after the cars built? Energy transition? Why? Heavily invested in EV, come on and get in debt with an EV so my EV stock price will increase! 50 cent gas tax? Why not a 5 dollar gas tax? By the way, carbon credits are fabulous, make total sense. Genius!
EV's might not be fully zero emissions, but at least on the street for people with astma, they don't kill them.
@@MF2_ETaube Depends on whether the country you live in uses fossil fuel for electricity generation. I live in a country where about 90% of the electricity comes from renewable sources, with plans in course to increase that to 95% in the next few years, so an EV here is pretty close to zero emissions.
Tax the poor! Subsidies for rich people to buy cool toys! Go US government l!
Steve Rattner said fuel taxes were not the way to go. The tax credit for new and used clean vehicles no longer requires tax liability. There is an upper income limit (set too high imo) though.
Lol EVs, magical vars that cause no harm to the environment.... riiiiiigght. O by the way, cost more, range is a lie, loses half value in 30 days, repairs and insurance maybe double, yea this is a great idea😂
Hybrids are a high maintenance scam by the auto industry. EV is the way to go. ⚡️
Everyone pumping EVs couple years ago and now leaving all the dumb money holding the bag
It's just starting over here in Asean. Chinese evs are now as common as Toyota. Their ev prices are gonna come down even more once their factories in Thailand are up and running in a couple of months time.
I had an Tesla Model 3 for a year. Charging on road trips was a nightmare. Lines to get into the chargers often, no queue system, weird charger locations in the middle of nowhere. Insurance was very high compared to ICE. Went through tires like crazy. Was glad to be rid of the thing and happily back at the gas pump.
Luddite.
Whenever you need politics, government incentives and regulations, to shift people to use different technology, simply shows that this new technology (electric vehicles) simply is not good enough. When technology is good for what it offers and the price for it, people will shift to it on their own.
Maybe your government should STOP subsidizing fossil fuels, see how long ice vehicles last paying full price for fuel.
@@metricstormtrooper half of the price is state tax anyway, so it will get better 😄
If this has become a political issue and democrat's cant wait to get one, why aren't half the cars on the road EVs? There are plenty available so that's not an excuse.
Because people Cant afford it in many areas in the country don't have the infrastructure to charge.
None of these issues are the main reason of transition failure … it’s the time taking an EV to charge
How long do you think the best EVs take to charge in 2024? What amount of time would you accept in minutes to charge your EV to get 200 miles of range during a 1000 mile road trip?
@@thx1138guyI'm looking forward to their answer, some people just have NO IDEA.
You are Too slow ,too cheap and too corrupt
yeah tax ga and increase inflation even more. How is this person a market guy? Forgets trucking/shipping completely
EV are luxury cars. Sold to rich people. Not everyone is rich and you need to charge it slowly, fire hazards anxiety, can blow up anytime, safety concerns, range is low compared to gas. Too many examples of EV catching fires on its own.
I call your B S,
@@metricstormtrooperit's the truth and you know it.
@@jmjfanss You do know that over *170 thousand* fuel-powered cars spontaneously catch fire every year in the US, right? EVs are actually much safer from spontaneous combustion than fuel-powered cars.
I have seen many ice vehicles catching fires with some loss of lives. But I have yet to see or read about an ev fire here in Asean. Evs especially those from China have been on the road for almost 2 years now.
EVs are for a very narrow user profile. 🤔 Hybrid is another discussion.
why buy an EV when there is little infrastructure to support them, the high prices, waiting an hour for a charge, the insurance, the maintenance costs. No thanks.
OEM and Biden BS, JD Powers advertiser for sale
EV cars are terrible for the environment because they are twice as bad as gas c cars. . It has nothing to do with jobs.
Without backing what you said with real data and solid evidence, it's just your opinion presented as fact.
That is a lie a big lie. Nobody wants to leave nobody nobody wants to move from a gasoline car or a hybrid car to a EV Bloomberg why are you spreading lies shame on you
Really...that stupid guy asking for a higher gas tax?... 😂🤣😂🤣😂🤣 nice joke.... a good one.🤦🏻♂️🤬
Just reduce gas company's subsidy,n that will do it.