The Electric-Vehicle Bubble Starts to Deflate
wsj.com
wsj.com
Sheesh. How anti-government can WSJ be. The government is providing a subsidy of 4 figures on these vehicles. I can't think of any petrol car that ever got such a subsidy, including hybrids when they were up and coming (someone correct me if I'm wrong).
And now it will be the government's fault, even if they keep the subsidy and keep doing things the right way. Because the market is acclimatizing to the price of a new product.
This is like blaming the government for the student loan cris-
Oh wait.
The US interstate system cost about $500 billion.
Professor Shoup estimated that the value of the free-parking subsidy to cars was at least $127 billion in 2002: https://archive.nytimes.com/www.nytimes.com/2010/08/15/busin...
The United States spends an estimated $26 billion per year to subsidize fossil fuels: https://www.nrdc.org/bio/han-chen/time-us-end-fossil-fuel-su...
Including externalities, in the European Union, the cost of automobility is about €500 billion per year: https://www.researchgate.net/publication/330184791_The_Socia...
Petrol cars have and continue to get subsidies amounting to a subsidy many times the value of the vehicles.
...is the same electrical grid that powers gasoline pumps.
I wonder what the conversion from electrical to chemical power is going from the grid to the engine, and how the cost per kilometer compares.
If electricity costs $x/kW⋅h and it takes y kW to pump n gallons of gas, which can power a car g(m) kilometers, vs powering an electric car e(m), how do they compare?
Wow, never heard that before. 400 EV companies bit the dust.
That was a weird sentence.
Just the Wall Street Journal, journaling on Wall Street.