https://thedriven.io/2023/03/30/legacy-auto-faces-disaster-in-china-with-unsellable-cars-as-pollution-crunch-looms/
Another interesting feedback loop into the transition to EV’s.
Legacy ICE manufacturers are relying on profits from ICE vehicles to help pay for the transition. They assume a nice comfortable period. May not be that comfortable at all but short and painful….
Toyota and VW in really difficult terrain..Assets rapidly devalued, income dropping
Only solution is the fastest transition they can manage , locking up battery material is critical as we know.
Tesla model Y is looking at being the worlds highest selling vehicle possibly this year.
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