No oil company could give two hoots about EV's....Ev's are a poofteenth of the mkt.. All companies are winding back their EV sales targets.. winding back doesn't mean zero sales..Further, govts are winding back subsidies... if something is great and wanted, there is no need for subsidies in the first place...
The reason the shorters have their positions is because they don't believe the rhetoric either.
“… the ideological vision has failed. We need to acknowledge that …”
Italy Seeks Reversal of EU’s 2035 Combustion Engine Ban
By Alberto BrambillaSeptember 07, 2024 at 11:45AM EDT
Bloomberg) — Italian officials said the European Union’s plan to ban sales of new internal combustion engines from 2035 should be reviewed.
“The ban must be changed,” Energy Minister Gilberto Pichetto Fratin said on the sidelines of the Ambrosetti Forum in Cernobbio, on the shores of Italy’s Lake Como, on Saturday.
Pichetto Fratin called the decision by the EU “absurd,” and dictated by an “ideological vision” along with a state-controlled approach to policy-making within the bloc. The plan needs changing in order to reflect different market realities amid the European auto industry’s slowdown, he added.
Industry Minister Adolfo Urso also backed a change, urging the incoming European Commission to anticipate the review of the plan to early 2025, from 2026. “In an uncertain landscape which is affecting German automotive industry, clarity is needed to not let the European industry collapse,” Urso said in Cernobbio.
“Europe needs a pragmatic vision, the ideological vision has failed. We need to acknowledge that,” he added.
…
There are other considerations, aside from the fact a lot of people just don’t want an EV.
Europe claims around 11 million EVs, out of a total vehicle ownership around 250 million. Even if Europe somehow convinced every one of the owners of those 250 million vehicles to swap their ICE vehicle for an EV, that would be a lot of extra demand on a grid which is already struggling to maintain winter energy supplies.
The bad news about Volkswagen never ends, but neither do the clever tips from politicians. The strangest things come to light. Lower Saxony’s Economics Minister, of the SPD socialists, Mr. Olaf Lies, (the state has a 12% stake in VW) had no idea about the events and problems at the manufacturer until the press release.
He was not on the supervisory board. The state’s Minister of Economic Affairs once sat on the board, but he was replaced by a Green Minister of Culture. Not for reasons of competence, but rather because she is a member of the Green Party and Lower Saxony Vice Prime Minister. Do they talk to each other? Hard to say.
So Mr. Lies was caught unprepared and also stated in the media that energy prices in Germany were causing Volkswagen problems. It’s hard to imagine what would have happened if the country had allowed the two nuclear power plants there to continue operating, though this is a federal decision. It is also somewhat crazy that energy prices are rising due to the green energies transition and grid restructuring. A self-fulfilling prophecy, except for Mr. Lies, who proposes solving the problem with new subsidies.
So the consumer is failing, and is buying too few electric cars, for whatever reason. The slump in registration figures is not only affecting Volkswagen, but are also falling for combustion cars, which says a lot about the economic situation in Germany. According to the Federal Motor Transport Authority, the number of registrations fell by 28% compared to the same month last year. The number of e-car registrations even fell by almost 70%. Yet Volkswagen has been told quite clearly that there is only one way forward and that is e-mobility.
Surprisingly, the plants that still produce combustion cars are doing very well.
We are increasingly reading that the current Federal Minister of Economics, Robert Habeck (Greens Party), stated back in 2019 that VW would only survive if it produced an e-car model for under 20,000 euros. The biggest proportionate cost factor for an e-car is likely to be the car’s battery. In a small car, it has a greater impact on the price than in a mid-range car. The battery can account for between 30-40% of a vehicle’s price. If even a small car like a Fiat 500 in the e-version is 30% more expensive than the combustion version, then the dilemma becomes clear. Battery prices will only fall with mass production and manufacturers are still a long way from achieving this. So it’s the chicken and egg problem. The manufacturer Volvo, which has Chinese owners, has put aside its plans for 100% electric by 2030, according to T-Online.
What happens when that downward revision is revised downwards again?
Graphite is a dud and investing in it is bordering on the moronic.....there is a long way to go in this saga and the EV outcome will be a fraction of the hyped mania by the delusional. Never mind about the concerns about spontaneous combustion in both cars and buses, being banned from multi story carparks in Germany, that resale value is low because of the distrust of the battery or the fact that EV's operate poorly in cold weather and poorly in hot weather and the fact that lost revenue from fuel excise is yet to be passed on to EV owners and the fact that the grid cannot keep the power flowing 24/7 let alone cover the energy demands if there were a substantial number of EV's.
"Battery prices will only fall with mass production and manufacturers are still a long way from achieving this."
What happens to the price of graphite if battery prices have to reduce considerably to be competitive with ICE???
Have fun arguing in a mugs game and keep reading Renewable Weekly where you can get your daily fix of confirmation bias.
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