Now, before you and others have a tantrum, we obviously do not experience those cold extremes down under.
However, it does highlight how badly lithium based batteries degrade with falling temperatures. We've all heard of this, but when your pride and joy tree-hugging car becomes no longer fit for purpose, that puts a whole new spin on it.
A mate of mine in Dallas (TX) sent me video this morning of his pool pump system that has splits in the PVC pipes due to it being -10°C there this week. Just in case you think these weather events only apply to the northern part of 'Merica.
He also reports that EVs are piling up in dealers yards, as the initial novelty has worn off, and everyone who wanted one already has one.
When was the last time you toured car yards in the USA to see what was really happening? Probably never?
The same weather conditions in 'Merica/Canada apply to greater Europe/UK, and northern China. In other words, the bulk of the world's vehicle market.
Anyone who likes to hear both side of the conversation, and not just what they want to hear, will be aware of many auto makers are now scaling back their EV investment. Ford/VW for one.
EV sales, although increasing, are not meeting expected targets. In other words, it was over-hyped from the start, and we are seeing the beginning of reality check #1.
I expect reality check #2 will be when insurance companies start asking if you have an EV parked on your premises, so home insurance premiums can rise accordingly with the risk of fire.
Reality check # 3 will be when shopping center etc car parks start segregating EVs from other vehicles to contain risk and liability.
It may take a while to get there, but you don't need to be Nostradamus to see where this is headed. You just need to be open minded and realistic.
Unfortunately, when people invest in something, they cannot accept any negative news and get all defensive. More fool them.
PLS Price at posting:
$3.53 Sentiment: Buy Disclosure: Held
(20min delay)