"When I drive around Sydney, I see a lot of ICE cars and this will not change soon."
Therein lies our difference as investors my friend. Sydney and Australia have been slow to adapt bevs, I suggest you drive anywhere around Europe where ice vehicles are being obliterated. Investing in what is only happening in Sydney is like people in Herculaneum not fleeing the city because they didnt see what was happening in Pompei. Just because you don't see the change in your city does not make for a sound counter argument.
evs are 100% mainstream now Kia ev6 has sold out presale in australia, Hyundai ioniq5 too. Give it a few years and even your sydney based perspective will realise whats happening accross the globe
"Let's imagine that EVs will be 50% of the market by 2030. where do you think the power would come from to charge them"
im sure you have looked up during the day time and noticed our great source of energy?
I can only imagine the shock you might experience if you visit europe. Sales data for evs is parabolic. Heres some data from 2020 for some select countries.
Norway 74.8%
Iceland 45%
Sweden 32.2%
Netherlands 24.9%
November 2021 alone saw Europe ev sales hit 27% of market share and this is on the cusp of saif vehicles reaching price parity with ice vehicles. I highly doubt that it will take 18 years or more for evs to become mainstream or at least im not foolish enough to bet against it. You are imagining they will get to 50% market share in 8 years, but they are already more than halfway there and this is data that can't be ignored. By the way, the population of europe is 750 million. Australia's data is 2/3% of market share as we have no rebates, incentives or as usual are laggards thanks to our short sighted and greedy fossil fuel loving government
There is no need to reply to this either we both clearly are biased and have different views on what is happening in the world. I wish you good fortune regardless. I only hope you can get back into fmg to join the family instead of lamenting the exit and lurking the forum
best of luck, let's revisit this in 2030 and see what happened after all as neither of us knows
(20min delay)