Porsche Facing Troubling Headwinds

[DGS49]

https://insideevs.com/news/759601/porsche-blames-electrification-for-crisis/

Possibly the finest car maker in the Western World, Porsche, now faces financial uncertainty as its EV strategy has been dealt a massive blow by vanishing EV mandates, public resistance to their hyper-expensive EV's, and unexpected (and possibly vanishing) technological progress on EV's in China.

It is an unfortunate fact of the car business that auto companies must do their expensive and time-consuming product development based on assumptions about public demand 4-5 years out. The Biden Administration and governments in Europe crafted virtual and actual EV mandates in the early '20's, foolishly ignoring the fact the electric power will continue to be mainly produced by burning carbon for the foreseeable future. Car makers had to presume that if they didn't have a full array of EV's by 2030 at the latest, they would be closed out of a huge part of the market. So they went Full Speed Ahead on designing and bringing EV's to the market, neglecting their core ICE capabilities.

Now the EV mandates are evaporating, much of the public is saying, "Hell NO!" to EV's, and the Chinese have progressed their EV's much more rapidly than anyone anticipated (although rumors persist that their batteries won't make it through the manufacturers' warranties).

I love my EV (Tesla M3LR-AWD), but would not even consider an EV if I couldn't charge it at night while I sleep - at fifteen cents per kWh. It seems that a large percentage of the population both here and in Europe simply doesn't have that option, in which case the advantages in operating costs vs. an efficient ICE or hybrid car become much less attractive.

Porsche will soldier on and thrive, eventually, because people with more money than common sense will continue to spend stupid money on them. But many other EV makers will go bust because their business model depends on government mandates and incentives, which are already in the process of being withdrawn. My own thinking is that until they come up with a profitable electric sedan or SUV that will get 300 miles of honest range for $35 grand, they won't survive.

EV's, unfortunately, will not save the planet.

 

[shockedcanadian]

https://insideevs.com/news/759601/porsche-blames-electrification-for-crisis/

Possibly the finest car maker in the Western World, Porsche, now faces financial uncertainty as its EV strategy has been dealt a massive blow by vanishing EV mandates, public resistance to their hyper-expensive EV's, and unexpected (and possibly vanishing) technological progress on EV's in China.

It is an unfortunate fact of the car business that auto companies must do their expensive and time-consuming product development based on assumptions about public demand 4-5 years out. The Biden Administration and governments in Europe crafted virtual and actual EV mandates in the early '20's, foolishly ignoring the fact the electric power will continue to be mainly produced by burning carbon for the foreseeable future. Car makers had to presume that if they didn't have a full array of EV's by 2030 at the latest, they would be closed out of a huge part of the market. So they went Full Speed Ahead on designing and bringing EV's to the market, neglecting their core ICE capabilities.

Now the EV mandates are evaporating, much of the public is saying, "Hell NO!" to EV's, and the Chinese have progressed their EV's much more rapidly than anyone anticipated (although rumors persist that their batteries won't make it through the manufacturers' warranties).

I love my EV (Tesla M3LR-AWD), but would not even consider an EV if I couldn't charge it at night while I sleep - at fifteen cents per kWh. It seems that a large percentage of the population both here and in Europe simply doesn't have that option, in which case the advantages in operating costs vs. an efficient ICE or hybrid car become much less attractive.

Porsche will soldier on and thrive, eventually, because people with more money than common sense will continue to spend stupid money on them. But many other EV makers will go bust because their business model depends on government mandates and incentives, which are already in the process of being withdrawn. My own thinking is that until they come up with a profitable electric sedan or SUV that will get 300 miles of honest range for $35 grand, they won't survive.

EV's, unfortunately, will not save the planet.

Another victim of the MSS.

They must be laughing their asses off.