GT Resources Inc (CGTRF)

[nowwhat2]

Presumptions Of EV Adoption
Early during the week of January 17, 2022, Carlos Tavares, CEO of Stellantis N.V. (NYSE: STLA), the automotive conglomerate formed in 2021 by the merger of Fiat Chrysler Automobiles and France’s PSA Group, made some comments in an interview with a number of European newspapers that appear to throw some degree of cold water on the pace of electric vehicle (EV) development in North America. This, coupled with the fairly modest size of the luxury car market in the U.S., could call into question the validity of the stock market’s lofty EV growth expectations.

Mr. Tavares’ main point seems to be that, across much of the world, “electrification is a technology chosen by politicians,” not by the auto industry and not necessarily by consumers. This notion may be at least partially validated by recently released car industry data. According to EV-volumes.com, full year 2021 EV unit sales in the U.S. totaled 656,866, equivalent to just 4.4% of the year’s total 14.9 million passenger vehicle sales.