“People don't want EV's and that's a fact.” Totally wrong Stevo. I could give you a long winded reason why but I will just make two points to you. 1/ China represents 30% of ALL global vehicle sales and the uptake of EV’s is rising fast and is currently over 50% of their market. 2/ People don’t want expensive EV’s. They want quality, long range, great tech and good looks at $60k AUD and under. Australia is about to be proof of that with an abundance of Chinese EV’s coming into the country over the next year. People buy predominantly on price and they are about to kill the other manufacturers in our market. There are 50 EV models coming over next year.
How do I know? The automotive industry at a management level has been my working life for last 35yrs. The EV industry is now unstoppable and the legacy automakers have a lot of catching up to do or they will die off. In every technological disruption there are legacy businesses that disappear and no one could have predicted it. Remember Nokia, Kodak and many others over the years. It will be the same in this industry. Who could have envisaged in they heyday of Australia’s Ford & Holden dominance that they would no longer exist as a homemade product even after much help from Australian Gvt? jmho
EGR Price at posting:
9.2¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)