(1) legacy car manufacturers don't know how to make cars. They forgot how to make cars decades ago. All components are manufactured by someone else, they slap their label on it. If you don't know how to make cars, it is nearly impossible to make new kind of cars.
(2) If you don't know how to do something, you can spend some money and learn. Legacy car manufacturers had $250 billion profits, but didn't spend any money on building this capability. Meanwhile, Tesla made electric cars, built supercharger network, built gigafactories, expanded these capabilities globally.
(3) Dealers hate EVs. Even if legacy manufacturers make EVs, dealers won't sell them. I've been going to dealerships every year for more than five years, dealers treat you like shit if you wanna buy an EV. Which is understandable, ICE cars have 2000+ moving parts and tons of repairs, EVs have 20 moving parts and zero repairs. They aren't going to make much money replacing windshield wipers.
(4) Meanwhile, China has figured out how to do EVs at scale, iterating and improving batteries and EVs. Eventually, legacy car manufacturers will go bust (after taking tens of billions in bailouts). We'll import cars from China either directly or indirectly. If there are too many tariffs, China is going to build assembly plants in Mexico or Canada, sell them very competitively in US. VW sells ID.3 for 16K in China, the competition is intense![2]
[1]https://www.epi.org/blog/uaw-automakers-negotiations/
[2] https://insideevs.com/news/675842/volkswagen-slashes-id3-pri...