"Profits at the German auto giant Mercedes plunged on Friday as sales of its slick new range of electric vehicles (EVs) went into freefall.
Porsche abandoned its sales targets for battery-powered cars amid waning demand from customers.
Ford is losing nearly $50,000 (£39,000) on every EV it sells, while Tesla’s profits dropped 45pc.
Meanwhile, battery manufacturers such as Germany’s Varta are getting wiped out.
Over the last few days, it has become clear that the EV industry is on the brink of collapse.
Hundreds of billions of euros, dollars and pounds have been pumped into this industry by political leaders and the subsidy junkies that surround them – and it is surely time they were held to account for the vast quantities of taxpayer cash that has been wasted."
