Electric vehicles are overhyped

In the automotive world, there's a madcap scramble on to produce electric vehicles (E.V.s).  It's not just Elon Musk's Telsa.  All the major car companies are on board with the endeavor.  The industry as a whole is said to have plowed some $300 billion of capital into building E.V.s, with more money to come.  This is all due to two interrelated factors, neither of which, by the way, is market-driven.  The first is the hysteria over alleged man-made global warming.  The second is government mandates and inducements. Inducements come in the form of tax rebates.  This handout, which started out at $7,500 for a buyer of an E.V., later dropped in half and will soon be $1,875.  The tax rebates were and still are vital for E.V.s.  A report from McKinsey management consultants says electric cars cost about $12,000 more to produce than they can get in the marketplace.  Even...(Read Full Post)
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