European and US manufaturers have to keep producing ICE vehicles for as long as they can because they are so far behind China with EV development and cost of production. They can delay the change but not avoid it.
"Mercedes CEO Ola Källenius tells Wirtschaftswoche that combustion engines are going to last “well into the 2030s,” so Mercedes has no choice but to make massive investments into ICE in order to meet stricter carbon emissions rules,"
I think some of these auto companies will struggle at best going forward and to survive, they have to be able to develop EVs even if they have to keep spending big to do it. Government incentives will likely have to be part of it, just as it is in China. US is way behind both China and Europe and has to change that at some point. Bidens IRR is the start. Trump would be taking a big risk to wind that back too far, especially several years from now when they should be hoping to be catching up. While investors don't like uncertainty, that earlier article stated that any changes wouldn't happen until a second term for Trump. That's over four years away. Do investors in green projects stop all investment now just in case?
