The Rising Influence of Rising Affluence

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Looks like panic is on the rise in the EV industry. Realization that legacy manufacturers are years behind with no real chance to catch up. Pile on government mandates and the future for them looks bleak.

The Big Miss on Electric Cars Is Remaking Europe’s Auto Industry
https://finance.yahoo.com/news/europe-being-forced-reboot-car-050013872.html

In 2025, tighter emissions rules come into effect in the European Union, meaning manufacturers need to sell more battery-powered cars or face hefty fines. In an unlikely worst-case scenario, Volkswagen AG could face penalties of more than €2 billion ($2.2 billion) if it fails to sufficiently reduce fleet emissions, according to Bloomberg calculations based on company and regulatory data.

As pressure builds on European carmakers to sell more EVs, China’s state-supported manufacturers are entering the cooling market with models that are often better and cheaper.