Mark Moss argues the EV market is collapsing as governments withdraw mandates and tax credits, automakers cancel production plants, and manufacturers lose money on every sale. He claims there isn't enough raw material on Earth to make batteries for all vehicles.
I would argue that EVs are dead. Really? Yeah. Why do you say that? There was two main driving factors of EVs. Number one, it was government mandates. Not just California, not just United States, but the UK, most of the West. By 2030, there was supposed to be a certain percentage of EV vehicles on the road, depending on the countries. Trucks were supposed to be EV. All that's gone. Every nation has dropped that. That's done. Number two, the big manufacturers were creating new plants, so they have to ramp up for EVs. So they're going to build this new plant in 7 years from now in North Carolina or whatever. All those plants have been canceled. They're not going to build the plants, which means they're not to build the cars without the government stimulus. Well, it's not just the stimulus, the mandate. The buyers were getting tax credits as well, right? So they were getting tax credits and the car manufacturers were losing money and the buyers were paying more money for a worse car. I'm not saying they'll go away completely, but the demand is gone. There's not enough materials on earth to make the batteries for every car to be electric.
