The Rising Influence of Rising Affluence

[n4807g]

True...but on the global competitive scale, the USA & Europe lag far behind China, Korea and Japan. Chinese manufacturers will overtake Japan as the largest exporters of cars; mostly EV. Their dominance will continue to grow. With BYD building production facilities in growing markets they are set to be one of the biggest, if not the biggest producer of EV's and batteries in the world. No doubt Korea and Japan will adapt. What about the USA & Europe? Together they are so far behind in raw material production and battery production that essentially they've already lost the EV and hybrid race. What's left is protectionism leading to higher cost and lower efficiency.

It's a delusional fantasy to believe the USA or Europe can achieve the EV goals without imports, but the political stage is set to stop imports. Without a bevy of sub $30K cars EV's will only be affordable to a portion of the population and I doubt we'll see a lot of low cost EV's coming from Detroit.