In Canada EVs are now being sold for $20K in the local currency.
With the huge ramping up of production planned by VW, Nissan and others the economies of scale will drive the price of EVs down - not in five years, more like two years.
The governments of China, South Korea, Japan, and most of Europe are pushing EVs, India is pushing EVs.
(I understand it takes a while to get things done in India, but the authorities there know - at state and national level, and there is political consensus on this, that India cannot afford not to switch to EVs. The massive uptake of private vehicle use in India means the continued use of ICE vehicles in the long term is unsustainable both economically (oil prices) and environmentally. India will be a key part of the puzzle.)
Germany is Europe's number one car maker and in 2025 you won't be able to register a petrol car in that country.
There are what, 760 million people in Europe? And then there's the exports. Eventually the German car makers will stop making petrol cars entirely, because it will no longer make any sense to build ICE vehicles just to sell to the Americans. Think about that: Volkswagen (who also own Audi and Porsche!), BMW, Daimler, Adam Opel, Ford-Werke...
And that's just Germany.
GXY Price at posting:
$2.56 Sentiment: Buy Disclosure: Held
