irvinehomeowner
Well-known member
And why is that? Summer blend is still a few months away.
ICE or EV?
- Thread starter irvinehomeowner
- Start date
morekaos
Well-known member
California taxes, worthless carbon credit scam, summer/winter blend scam, refinery taxes and fees. Drilling taxes fees and regulations…We should be paying half that but we are idiots, led by morons…
irvinehomeowner
Well-known member
You forgot Big Oil greed.
irvinehomeowner
Well-known member
Of course they are... Cali is car country... they know they have captives.
morekaos
Well-known member
Florida and Texas have as much as us combined…why are they paying half? Greed ends at the California border? Not hardly! Only stupidity ends there
morekaos
Well-known member
And BYD falls alongside Tesla…but the Chinese government will support them anyway as the market continues its collapse…
BYD loses EV throne to Tesla as sales slip
More competition and flagging demand in the Chinese market hit leading battery and plug-in hybrid vehicle makers
BYD reported a 42 per cent fall in its electric vehicle deliveries in the first three months of the year compared to the final quarter of 2023, allowing Tesla to reclaim the crown as the world’s largest seller of battery electric vehicles. Flagging demand and increasing competition in its home market, as well as the timing of Chinese new year, saw BYD sell 300,114 battery-only vehicles in the March quarter, a Hong Kong stock exchange filing showed on Monday.
https://www.ft.com/content/4f1a2188-ced0-4018-998d-5148209a5f5e
BYD loses EV throne to Tesla as sales slip
More competition and flagging demand in the Chinese market hit leading battery and plug-in hybrid vehicle makers
BYD reported a 42 per cent fall in its electric vehicle deliveries in the first three months of the year compared to the final quarter of 2023, allowing Tesla to reclaim the crown as the world’s largest seller of battery electric vehicles. Flagging demand and increasing competition in its home market, as well as the timing of Chinese new year, saw BYD sell 300,114 battery-only vehicles in the March quarter, a Hong Kong stock exchange filing showed on Monday.
https://www.ft.com/content/4f1a2188-ced0-4018-998d-5148209a5f5e
morekaos
Well-known member
Stupid is as stupid did ….
finance.yahoo.com
Hertz loses another $200 million from its EVs
Hertz’s EV fleet — which once stood at 60,000 EVs, will be cut down to half that at 30,000 EVs. A third of Hertz’s EV fleet was from Tesla (TSLA), with the rest coming from Polestar (PSNY), Volvo (VLVLY), and Chevrolet (GM).Hertz loses another $200 million from its EVs
Car-rental operator Hertz reported it lost another $200 million due to its EV gamble.
irvinehomeowner
Well-known member
Doesn't matter... Honda jumping in:
electrek.co
Honda joins EV race with historic $11B investment to build 240K EVs a year
Honda is finally joining the EV race after announcing a massive $11 billion (CAD$15 billion) investment to build four new...
electrek.co
irvinehomeowner
Well-known member
You must have been really scared of the Internet.
Are you still using AOL and a dial-up modem?
Are you still using AOL and a dial-up modem?
morekaos
Well-known member
I probably used and use the internet to a significantly greater degree than you ever will. Remember I was programming computers in the early 80’s at UCLA. Just livin in the real world…the top two EV manufacturers sales are crashing along with most of the secondary “all inners,”traditional ICE manufacturers have found god and returned to what makes them money. All the government largess was wasted (as I said it would be) and EV utopia is not on the near term horizon…..predictable and predicted
irvinehomeowner
Well-known member
Wow. Are you Al Gore?
morekaos
Well-known member
Way better
morekaos
Well-known member
This transition is going just swell..don’t you think?
Ford just reported a massive loss on every electric vehicle it sold
New YorkCNN —Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.
Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.
The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.
https://www.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html
Ford just reported a massive loss on every electric vehicle it sold
New YorkCNN —Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.
Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.
The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.
https://www.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html
morekaos
Well-known member
As I have pointed out many times…this irrational exuberance has a familiar smell and .com story arc…
EV’s Enter the Doom Loop
There is an almost predictable storyline in how these ventures have played out, which is reminiscent of the dot-com bubble of a quarter-century ago, except that the dot-com bubble wasn’t suffused in eco-virtuousness nor did the companies of its era receive such heavy public subsidization before going bust.
The typical boom-to-bust storyline of companies in the EV-era starts with the much-hyped announcement of a “transformational” new manufacturing operation that will be built, bringing hundreds (or thousands) of environmentally responsible jobs, generously funded with federal and state incentive dollars, to produce something that will satisfy the imminent demand for a product (EVs) that actually has no history of consumer demand.
Politicians then proudly pose for photo ops with the enviro-hustlers to whom they are handing out tax dollars. The company also goes public, and despite a lack of profit or meaningful revenue, its stock price soars. As product demand fails to develop, the company continues to produce press releases promising fabulous things to come, which credulous media sources breathlessly republish as news. But the lack of revenue and cash flow ultimately catch up with the company; promised expansions are canceled; the stock price collapses; and the story ends with the promised plant either closing or never getting built in the first place.
Though there are numerous such examples, and there will be plenty more as the implosion of the EV bubble intensifies, the story of an Australian company named Tritium that manufactures -- or perhaps I should say, “manufactured” -- EV charging stations is a textbook example
Tritium’s taxpayer-subsidized plant opened in August 2022, with more fawning press coverage touting how Tritium, “is investing heavily in the US, basing its spending on a forecast of 35 million battery-electric vehicles in use in the country by 2030 (compared to 2.6 million plug-ins as of April 2022).” The national media continued to give Tritium a tongue bath, with stories such as this Time Magazine piece from May 2023 hyping Tritium, and how “car rental giant Hertz’s transition to electric vehicles” would rely on Tritium technology. As we have documented here at The Pipeline, Hertz's transition to electric vehicles was a debacle that resulted in severe financial losses, a collapse in Hertz’s stock price, a humiliating retreat from the EV “transition,” and finally the removal of Hertz’s incompetent, enviro-globalist CEO before he could do any more damage.
https://the-pipeline.org/evs-enter-the-doom-loop/
EV’s Enter the Doom Loop
There is an almost predictable storyline in how these ventures have played out, which is reminiscent of the dot-com bubble of a quarter-century ago, except that the dot-com bubble wasn’t suffused in eco-virtuousness nor did the companies of its era receive such heavy public subsidization before going bust.
The typical boom-to-bust storyline of companies in the EV-era starts with the much-hyped announcement of a “transformational” new manufacturing operation that will be built, bringing hundreds (or thousands) of environmentally responsible jobs, generously funded with federal and state incentive dollars, to produce something that will satisfy the imminent demand for a product (EVs) that actually has no history of consumer demand.
Politicians then proudly pose for photo ops with the enviro-hustlers to whom they are handing out tax dollars. The company also goes public, and despite a lack of profit or meaningful revenue, its stock price soars. As product demand fails to develop, the company continues to produce press releases promising fabulous things to come, which credulous media sources breathlessly republish as news. But the lack of revenue and cash flow ultimately catch up with the company; promised expansions are canceled; the stock price collapses; and the story ends with the promised plant either closing or never getting built in the first place.
Though there are numerous such examples, and there will be plenty more as the implosion of the EV bubble intensifies, the story of an Australian company named Tritium that manufactures -- or perhaps I should say, “manufactured” -- EV charging stations is a textbook example
Tritium’s taxpayer-subsidized plant opened in August 2022, with more fawning press coverage touting how Tritium, “is investing heavily in the US, basing its spending on a forecast of 35 million battery-electric vehicles in use in the country by 2030 (compared to 2.6 million plug-ins as of April 2022).” The national media continued to give Tritium a tongue bath, with stories such as this Time Magazine piece from May 2023 hyping Tritium, and how “car rental giant Hertz’s transition to electric vehicles” would rely on Tritium technology. As we have documented here at The Pipeline, Hertz's transition to electric vehicles was a debacle that resulted in severe financial losses, a collapse in Hertz’s stock price, a humiliating retreat from the EV “transition,” and finally the removal of Hertz’s incompetent, enviro-globalist CEO before he could do any more damage.
https://the-pipeline.org/evs-enter-the-doom-loop/