That's their stated aim but Ford for example will only sell about 150,000 EVs in FY22 which represents a mere 3.5% of their total car sales. GM around 1.7% of all sales in FY22 will be EVs. Therefore the vast majority of their sales are still coming from ICE vehicles and thus they are very vulnerable to a recession slump. Tesla on the other hand, 100% EVs, will not suffer from this because they are feeding entirely of the ICE to EVs consumer conversion growth which will occur even if total car sales slump.
AVZ Price at posting:
78.0¢ Sentiment: Hold Disclosure: Held
