CHINA Electric Vehicle Disaster as Sales Growth & Prices Fall, USA 100% Tariff & Competition Soars

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In this video I look at what is happening with Electric vehicles. Both the price and the sales growth for electric cars fell in Q1 2024, Tesla, the leading brand globally, announced it was firing 10% of its workforce including the staff at its charging business and the share prices of EV brands crashed. However, despite all of this bad news, ZEEKR, a Chinese EV brand, listed its shares on the New York Stock Exchange at a valuation of over $5 Billion and raised $441 Million from USA investors. China has been flooding Global markets with low cost electric vehicles and as a direct result of this the USA recently introduced a 100% tariff on Chinese EV's. In this episode I look at the reasons why electric vehicle sales are slowing, why there is a reluctance to move to electric for the majority of car buyers and what the implications of the increase in competition means for EV brands such as ZEEKR.
For specific details please check out the CHAPTER list below.
Thanks for watching and please LIKE and SUBSCRIBE.
Chapters:
0:00 Intro
4:10 ZEEKR IPO
6:58 EV SHARE PRICES
9:39 EV SALES
11:27 EV BRANDS
12:45 EV CONCERNS
13:40 RANGE ANXIETY
16:03 CHARGING INFRASTRUCTURE
18:13 EV COSTS
21:38 REPAIRS
22:46 SUMMARY & CONCLUSION
#china
#tesla
#electriccar
#electriccarsarethefuture
#chinaevcar
#zeekr
#shares
#electriccar
#rangeanxiety
#globalrecession
#chineseyuan
#deflation
#inflation
#technology
#wheat
#interestrates
#india
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Bonds

[@Ultra-Violet]

You'd think the American investors would of learnt their lesson now, when it comes to investing in China 🤷🏻‍♀️

[@mikedennington8856]

Its all a scam, these 'investors' are companies who can make tax right offs and gain in their other business ventures.

[@markmcselec]

As long China has a dictator nothing good will come from China.

[@-oysterthief4444]

It’s all an exploit for the rich.

Blackrock likes to pay back the party it works for.

[@brodriguez11000]

Willie Sutton: When asked why he robbed banks, Sutton simply replied, “Because that's where the money is.”

[@sensi6457]

China wants a productive and good diplomatic relationship with the West and Europe but is actively supporting Russia and trying to undermine Europe and America 😂😂

[@Jordan-Ramses]

No. They say that. They say a lot of things.

[@zoomeraygun1]

@@Jordan-Ramses I wasn't giving an opinion. Its evidence-based facts

[@lebowskitriple8]

@@Jordan-Ramses You tried. You failed ... 😂

[@Jordan-Ramses]

@@zoomeraygun1 did you misunderstand me? I was saying China SAYS they want good relations. But the CCP is not known for truthfulness.

[@Chordonblue]

Yeah, I'm not sure we should be trusting a country that, in addition to that... - Actively develops weapons designed to counter ours - Threatens Taiwan: The place where 90% of the state of the art chips come from - Developed a virus that killed millions and continues to be yet another 'cold' - If you care about climate change, why in the world would you support China?! - Works against the West's interests around the world

[@MasticinaAkicta]

People are still investing in chinese IPO's... Wow, that is just stupidity.

[@DK-ev9dg]

This is smarts.

[@chrishamlin5863]

@@DK-ev9dg How much Zeekr stock have YOU bought?

[@ycplum7062]

Did you see who was the previous US president? lol

[@DK-ev9dg]

@@chrishamlin5863 I will. This is all western propaganda.

[@DK-ev9dg]

@@ycplum7062 you mean womanizer, tax evader Trump? And much more?

[@ScrapKing73]

Re: depreciation. Who flips a car after 2 years? Don’t most people hold onto a car for 3+ years? Most people I know hold onto cars for 5-10 years at a minimum. Several people I know buy a car and drive it until the wheels practically fall off.

[@mrdeebo313]

Go look at all the 1 to 3 year old used cars for sale, a lot of people like having a new car every few years

[@adrianlang6550]

They will not do that with an E car, the bodywork will be pristine but the battery not holding sufficient charge. Replacement battery, possibly £15,000. By then the car is worth £5,000 if your lucky. If anything, i get less convinced by E cars due to the very poor residual values. I can do more to save the planet by wearing more clothes and turning my heating down.

[@mikep490]

@@adrianlang6550 Good points. Residual price and not knowing how long the car will last are key points. However, in the US each active car uses more energy than the house.

[@toby9999]

I typically buy a 10 yr old car and keep it for 10 years. My current car is a 2009 model, and it still runs perfectly.

[@toby9999]

​@adrianlang6550 That's not true. EVs hold their price well, which is why I can't even afford a used one. And batteries are typically not that expensive, unless perhaps Tesla. There are no used EVs under $20k where I live. Even 10 yr olds, none. Why? Because they're low mantainance, and they last much longer than ICE cars.

[@nathanhayhurst3212]

Im suprised the us still lets chinese companies are still allowed to list in the us.

[@ianshaver8954]

It’s called a stupidity tax.

[@kushalvora7682]

Bigger consumer market for many american MNCs is china, not USA. There will be a recession in both countries if USA does what you suggest.

[@dirkaminimo4836]

Greed!

[@tonycosta3302]

They need to get rid of the auditing exceptions for Chinese companies.

[@meanders9221]

NYSE and other stock exchanges in the U.S. are private businesses.

[@waynethurecht9441]

The question I believe is how the SEC is allowing these IPOs to be listed given the history without greater scrutiny.

[@FrancisFjordCupola]

There's corruption and then there are people who slightly rewrite the rules. It's probably legal and it probably should not have been.

[@billfrehe6620]

Well said. There seems to be a failure of proper investigation.

[@johnrac3302]

Everyone involved is making money, big money on Fee’s. Just like banks and loans … fee’s

[@noel9868]

Exactly

[@zacksmith5963]

Then why is WTO amd IMF standing with China ?​@@FrancisFjordCupola

[@thomashunter5645]

You can become a millionaire by investing in Chinese companies. You have to start with billions.

[@rcchin7897]

Not to mention having ties to the CCP. Mmm… kickbacks!

[@FN-im9xj]

My Tesla M3LR has 450hp, is 4wd and runs at 50% less cost than my wife’s 100hp VW GOLF diesel which is half meter smaller. I can assure you that gives me no anxiety at all.

[@s9enny]

Work out the cost per mile including depesiation then the cost to charge and the extra cost of your home energy ie duel rate electric or cost of fitting solar and battery system to home you my we’ll find your self less smug especially if your closer to death than the life span of your solar 😅

[@fairybuddy-angel2035]

And you funded Mr Musk, must be a nice feeling.

[@ArmageddonIsHere]

​@@s9enny Please learn to spell "depreciation" correctly and THEN you can go back to being smug.

[@s9enny]

So sorry did I hit a nerve 😂

[@FN-im9xj]

@@s9enny do you have an EV?

[@joeminella5315]

I don'i know anybody who has enough money to throw some away on an unknown Chinese company. Who are these people?

[@reedaltman]

Warren Buffet at some point had BYD - not sure if he still does or not?

[@johndoh5182]

@@reedaltman BYD is a company that's been for about 30 years. Do some research dude. BYD also developed LFP battery tech which is safer than Li-Ion, and no they don't catch on fire and the videos that show BYD vehicles burning don't understand BYD as an auto company uses different types of batteries, including Li-Ion. And did WB invest in BYD or BYD Auto or do you even understand this point? Warren Buffet has pulled back some on the stock they hold. Of the different companies in China making BEV I would put BYD as the best contender to survive the large reductions in companies making BEV. Did you have a good reason to throw Berkshire Hathaway out there, as if they don't do their due diligence before sinking money into companies?

[@Tinyhome-777]

They are Biden supporters.

[@ycplum7062]

@@reedaltman Buffet dumped about 60% of his BYD holding a year or two ago. BYD is in a separate category from many other chinese EV manufacturers. BYD is the largest EV company in China, but it is also vertically integrated. It produces and sells it batteries globally. And, it has been making a profit, unlike many other chinese EV manufacturers that had previously been surviving on government subsidies. With that said, BYD is likely to face headwinds moving forward for much of teh reasons mentioned in the video. Their year on year car deliveries have dropped significantly.

[@richdobbs6595]

My guess is that this is a mechanism to get around capital controls. Are Chinese investors allowed to buy these shares?

[@brycem0]

There is around 100 Chinese electric car manufacturers. Some only make around 500 cars per year. So there is going, to be alot of them failing or merging.

[@prastagus3]

Capitalism / survival of the fittest at work in Chinese EV market right now, unlike in US sedentary EV market

[@mylimomelbourne4757]

Correct

[@audistik1199]

Yep, a predictable outcome, doesn’t mean a rejection of EVs.

[@mylimomelbourne4757]

Latest data EV’s new car Sales up more than 20% that’s a high growth market that will soon overtake ice vehicles new car sales and once it swings it’s game over if not already

[@adrianlang6550]

That seems a huge number of companies and i suspect yhe vast majority will be using commin components. Only a few companies make the batteries, tyres, braking systems etc. so really just different body panels.

[@ScrapKing73]

I know a bunch of people with electric cars. They all went electric because the operating costs are far cheaper, and most of them got second-hand ones so none of them seem very smug about their purchase.

[@adrianlang6550]

That makes sense. New does not. Plus solar panels to provide some charge but only works for those using car for short journeys due to the capacity needed.

[@kevxsi16v]

This is what I did. I have 45kw of solar panels and 110kwh of battery storage so adding an EV made sense

[@dgillies5420]

I got a model 3 at introduction, Sept 2018. Fantastic. Still no maintenance costs. 5c a mile in electricity ...

[@kevxsi16v]

@@dgillies5420I too have a model 3 a 21 performance I do need to change the TPMS sensors though it’s only done 6500 miles

[@waltertodd4479]

HahahahahaHahahahaha

[@kevxsi16v]

Tbh as an electrician I don’t think working on an EV is really an issue.

[@jean-michelvanpruyssen936]

400 V DC is dangerous.

[@kevxsi16v]

@@jean-michelvanpruyssen936if your a 🐈

[@flagmichael]

@@jean-michelvanpruyssen936 Not as dangerous as we might think - DC really is less hazardous than AC. I developed an early interest in electronics, so when my friend called me to say his aunt had brought over her dead console radio from the 1940s I was eager to help. By the time I got there he already had the chassis and speaker on the kitchen counter and had bypassed the bad power switch. I was 14 years old but I knew the speaker was a "field coil" type: in the absence of alnico magnets the speaker magnet was a coil that carried the plate current for all the tubes: a good source of current and an aid to filtering the high voltage. What I did NOT know was that for some reason one end of the field coil was fastened to the speaker frame, putting 300 VDC between the speaker and the chassis. For reasons unknown to modern man I had one hand resting on the chassis as I clapped the other hand down on the magnet structure. It felt like I was hit in the back of the head with a 2X4 and things got dim for a moment. If it had been AC I would not be writing this. More? When I started working as an avionics technician in 1970 vacuum tube radios were a staple. I can only guess how many times I ran afoul of the 275 VDC in the power supply of the Narco Mk-12 radios everybody seemed to have. It was usually only finger to finger but a few were hand to hand.

[@theomnisthour6400]

Fools and their money are soon parted

[@pablosskates7067]

There's an old saying in Shanghai - I know it's in Beijing, probably in Shanghai - that says, fool me once, shame on - shame on you. Fool me - you can't get fooled again.

[@Alphasig336]

The exchange is and should be liable for allowing these fraudulent companies to list.

[@briancarl5566]

They were lucky to get together in the first place!

[@zacksmith5963]

U are that f00l

[@zacksmith5963]

​@@pablosskates706740 US banks reporting security losses 50% greater than their equity capital because of the rise in interest rates since the end of last year, leading to another banking crisis. 30 days count down to collapse. .

[@cogollo1974again]

Joe, I love your videos, but you obviously need to research this topic a lot more. Most of the negative points you mentioned are "people are uncertain whether EVs will work", but there is already a lot of information out there shoeing that they do work. I have been driving an EV since early 2019, I have done multiple road trips of 600km+ (longest one about 5000km) and have had no issue whatsoever (I have a 2nd hand Tesla). The only thing you say is completely true is that having the possibility to charge at home, work or the mall is fundamental. People without at least one of those options will have problems; otherwise, EVs are cheaper, cleaner and nicer to drive. Love your channel! Keep up the good work.

[@Fast58Eddie]

It is sad to see that the legendary British brand MG is now Chinese. I have fond memories of my 1970’s MGB. A true British sports car.

[@makeitgreener642]

They make excellent EVs. Mg4 trophy is a great car.

[@flagmichael]

TBH, though, Chinese may not be worse than British Leyland. I loved my 1969 Lotus but it didn't love me back. The electrical, for example, was by Lucas. I learned first hand why he is called the Prince of Darkness. Only driving it made the hassle worthwhile.

[@crystalbluepersuasion1027]

Oh I loved those cars.

[@stepheneasson9787]

@@flagmichael Lotus is now also Chinese, in fact it's owned by Geely who akso own Volvo and Zeekr.

[@fairybuddy-angel2035]

MG is owned by The Chinese Communist Party. You buy that, you fund the party elite. HK. Taiwan. Putin. NK. Slave labour. Persecution of ethnic minorities. Internment camps. Slave labour. Still, nice cheap car (did you watch the video!?) Jeez. What a world. Better buy Russian next and really undermine western manufacturing to help our distant Communist friends.

[@TheLDunn1]

it's a legalised scam. Chinese business does IPO in US, goes belly up shortly after, makes off with all the money raised in USA.

[@I-have-a-brain_and-use-it]

Chinese millionaires cannot take their money outside China very easily SO they do an IPO in the USA pocket the cash , stick it in a tax haven then work out how they and their family are going to skip the country .

[@Ontime2day]

A tale as old as the stock market

[@10317]

That is true but a buyer must do their due diligence. Or, they’ll pay the consequence.

[@mattclark1278]

Buyers beware

[@dr.mikehirschberger7674]

@@Ontime2day It is the heart of the stock market with the bear standing next to the slaughterhouse with sheep sheers in his paws and a big grin on his face.

[@BradPrichard]

I live in China and I've never heard of Zeekr nor seen its logo.

[@BradPrichard]

It's apparently an arm of Geely though.

[@Fred-cj6xp]

@@BradPrichard Or made only to steal money from US

[@boonnathan9827]

Not too observant are you ! CCP scumbags.

[@ZoomZoomMX3]

Another crap brand

[@Rockiii9]

I live in Beijing & see them, lots of them, daily.

[@Longtack55]

Some of Joe's assertions are wrong. EV Battery degradation is 1% per annum. My Nissan ICE car with a mere 110k kms on the clock was written-off because it was uneconomical to replace the head gasket

[@barryraymond9004]

Why does Tesla warranty 70% after 8Years/100,000 Miles then? 1% per annum would be 30 years before 70%.... unless its not.

[@chrissmith2114]

The biggest thing holding normal people back from EV is that the battery is the whole car, and a battery failure can result in the car being worthless. With an ICE vehicle anything that goes wrong can be repaired fairly cheaply and often by the owner at home, but EV are not really repairable, they are a disposable vehicle, like a smart phone is disposable tech. Even minor accident damage on an EV can result in the battery being internally damaged and liable to catch fire at any time. The reason Hertz and Sixt quickly dumped their EV fleet was given as 'unreliability, high repair costs and the killer was - 'low residual value', in other words the EV shed value like a moulting bird sheds feathers.

[@aheimdahl5201]

Exactly.

[@johnoliver5284]

Tesla guarantees batteries 8 yrs

[@chrissmith2114]

@@johnoliver5284 With certain 'get out' clauses.....

[@aheimdahl5201]

@@chrissmith2114 Oh, I suspect in the near term, there are going to be boneyards full of EVs, because people can't afford the battery replacements/ upkeep on them. Boneyards full of these things are not an environmentally sound result. EVs are not the be - all as far as mitigating Climate Change because of what is used to generate that power (mostly Fossil fuels, some hydropower, etc.). Not only that, but we have enough problems with present loads for just regular stuff on our electrical infrastructure as it is and people think we can add millions of EVs that also need to be charged on top of all that? I have relatives that live 3900 miles away from me, and the only thing that will get me there at this point in time is an ICE vehicle - an EV won't cut it. The battery tech and the range will have to get a LOT better before I even consider buying an EV.

[@paulwelch4643]

The Truth awaits EV costs and resale values...for which you need an active battery

[@GigglingChinchilla]

I think they are a money Seekr.

[@CaravaggioRoma]

this is by far the best blog around.

[@undercoveraca]

Shame he doesn't understand the EV market though. Just recycling MSM myths mainly.

[@brodriguez11000]

Left out hybrids as a mid-point between ICE and EVs.

[@robertnewhart3547]

I especially love the bass boom in the beginning. We know by the second time. But of course your speakers are already blown. A swell guy.

[@vicentevaldez1696]

Legacy car in China is dead.....

[@broadleyboy2]

I think it would ha better if the video had stuck to discussing share values . i think the video lacked balance . The fact that the second hand values of electric cars has reduced presents an opportunity for people to buy them . Secondly more people have invested in solar panels since the price increase in electricity so are not affected when using that energy source . Also there are off peak charging rates available . Legacy vehicles have higher road tax in the first 5 years and don’t attract the 100% relief on purchase which business users enjoy . Joe misspoke when he said electric vehicles use more power due to the rise in electricity costs .

[@stanleytolle416]

A woman at my pool recreation center bought a Volkswagen EV. She is happy with it and she is not one of those wealthy owner. She is driving the car because is the most economical car she could own. She does have home charging so this setup would not work for me. Hopefully when more people have these cars and there is more infrastructure for these cars I might consider such a move.

[@johnoliver5284]

I have a Tesla 3 long range with an actual range of 440km - in Queensland I charge from the solar panels for free - maintainance costs are very low ( only one tyre in 2 yrs) - I wouldn't go back to an ice car

[@an-albumhole4400]

My neighbour brought an EV and it lost 20 miles of range in 4 months and they switch to a petrol. I have excess to an EV van via work... it loses 12miles by turning on the heater... I agree there needs to be a solutions... but currently EVs aren't

[@an-albumhole4400]

@@johnoliver5284 Lovely, what about in countries where the sun doesn't always shine?... did you own a BMW before by any chance??

[@ronanonline3515]

Absolutely. They have low / zero maintenance costs and have 6+ year battery guarantees (i.e. >70% remaining chargeability)

[@Astropalis]

​@@an-albumhole4400 I live in the Netherlands. Certainly not the most sunniest place in the world. I have solar panels and driving my ev for free over the year. No problem.

[@runs_on_coffee]

Zeeker is owned by Geely and Geely owns a lot of auto companies in Europe. Lotus, Polestar, Volvo, London Electric Vehicle, plus 14 other auto companies. They sell abut as many cars world wide as Toyota, should be interesting to see how they do over the next year.

[@HP3.14]

Volvo EV sales for Q1 is down 65%

[@stepheneasson9787]

@@HP3.14 Only in the US, in Europe Volvo EVs where up 70% and world wide up 42%.

[@matusknives]

Joe, with all due respect. Range anxiety has been around since the day one with electric cars. It has nothing to do with a slump in the sales in the recent months.

[@DeepStinker]

No, range anxiety is a real thing. Can't get the wife to switch. I drive an EV and range anxiety is overblown, massively. But perception is the accepted. Windshield wipers, radio, lights, heated seats, heater are not really an issue for a battery that big, but again, the perception. AC and cold weather are a real factor. But think of how you drive a gas car on near empty. Takes practice and experience. Don't know about repairs, very reliable. Tire rotation is a thing. Heavy vehicle.

[@Mark-xv5lb]

how much of "range anxiety" and worry about charging stations is stoked in social media by the oil industry?

[@icu17siberia]

I think in the US it’s word of mouth….

[@Astropalis]

In the Netherlands there are fast charging stations about every 20 kms. No range anxiety at all.

[@rcchin7897]

Who stoked us on EV‘s and not hybrids? Hybrids have the ICE advantage of gas stations, while EV‘s the convenience of charging at home. I‘d rather have both than one, thanks.

[@user-sx2nv7zc2d]

Zeekr is actually not only sold in China, but for example in Kazakhstan as well.

[@charlesholden2429]

Note on Range, when you travel at a busy time, and all the chargers are being used at a particular location, the overall rate of charging is slowed for each individual.

[@rcchin7897]

Yep. That‘s why I want a hybrid. If I want to charge the card, I‘ll do it at home. But I‘ll fill up the tank when it‘s less busy!

[@PoohSeaFresh]

Zeekr sounds like an entire scam from China 😂😂😂🤣🤣🤣

[@theairstig9164]

Zeekr is or was a sister company of Volvo and Polestar. Geely kicked polestar out of the house. I suspect Geely will kick Zeekr out too. This is just preemptive

[@dr.mikehirschberger7674]

@@theairstig9164 to the blind they all look the same

[@fc7424]

China is a scam

[@ronanonline3515]

Zeeker is owned by Geely and Geely owns a lot of auto companies in Europe. Lotus, Polestar, Volvo, London Electric Vehicle, plus 14 other auto companies. They sell about as many cars world wide as Toyota. They also sell a 1,000km range car

[@dr.mikehirschberger7674]

@@ronanonline3515 Yes, Aware of Geely. The reason I attached Joe's blog is that he has a fairly concise snapshot of the EV situation for new buyers

[@bigphinis675]

Zeekr sounds like a scam, i wouldn't invest

[@rogerjohnson8707]

China is a scam.

[@jkmarshall3553]

Zika virus?

[@JackCuddihy]

Maybe short the stock for its inevitable crash

[@roybatty2030]

Wasn’t there a deadly virus in Brazil of a similar name…?

[@williamviggiano2365]

Joe, can you do a follow up video on how Chinese companies are allowed to list in the USA? I’m surprised the U.S. treasury and SEC would allow this given the trade issues between the USA and China, especially in the EV industry where there is concern globally about overcapacity in Chinese manufacturing. By listing in the U.S. market, all U.S. investors are affected unknowingly when these shares are purchased by index funds, ETF’s, and other mutual funds. In this instance, I think it’s alarming that these shares were priced at the top of the range. This is an example of the empty government rhetoric about being tough on China and greedy Wall Street not giving a damn about investors.

[@prastagus3]

"how Chinese companies are allowed to list in the USA?" - unless US stock market actually de-globalized, all companies are allowed to list there. Same with HK and Shanghai stock markets from China too which allow US companies to list there as well.

[@posteroonie]

Free trade, the market, government interference is bad, blah blah. You've heard it all from the usual suspects for the last 30 years. So we get what we vote for, especially since half the electorate's news source only covers the down side of regulation. At the same time China is giving the world a lesson in what happens when industrial policy is applied too enthusiastically.

[@prastagus3]

@@posteroonie "China is giving the world a lesson in what happens when industrial policy is applied too enthusiastically" - yep, by getting tariffed and making past the prime industrial powers terrified of their high-tech industry will collapse from highly efficient competition (directly from US Trade Representative's mouth)

[@posteroonie]

@@prastagus3 I was thinking of China's real estate debacle.

[@prastagus3]

@@posteroonie they are recovering and cleaning up. In another word, reforming their economical structure to be better and less reliant on real estate

[@Indrid__Cold]

China investments are like casino bets.

[@stewartabernathy6436]

Or playing the ring toss game at a carnival.

[@xepherkingdom0243]

Probably worst than both.

[@user-xp7nk9dw8d]

That's usa

[@user-xp7nk9dw8d]

​@@stewartabernathy6436 that's usa

[@user-xp7nk9dw8d]

​@@xepherkingdom0243 again that's usa

[@bigearl3867]

If it were me, I would invest in charging stations rather than a car company.

[@user-xp7nk9dw8d]

Both chinese

[@patp4199]

Thanks Joe, very interesting. Yes, i would like you to post more videos about the EV market/industry.

[@wyrdwizard8288]

Love your Vlogs. Sorry I Dont normally moan but you hit a bit of a nerve today. You explain things, so the everyday Joe Blogs understands them. its brilliant, keep it up. You went into great detail on the downside of EV's I'm a petrolhead, love cars all my life, Mid 70's now but owned and driven EV'S for just over 10 years now. The big thing people miss out on their attack of EV market is how much fuel an I.C.E vehicle will use in the same lifetime of and EV. It is staggering. Also forget to mention, servicing, brakes, discs, Oil. filters, Cam belts, Water pumps, Exhaust, Cats, the list goes on. I have a 10 year old Nissan leaf, 50K Still on its original set of discs and pads with 70% + life left in them. Minimum servicing and as yet touch wood, nothing has gone wrong with the car, nothing not even a bulb. I cannot put my hand on my heart and say that with any I.C.E. cars I have owned and it is many as I love cars. There are loads of you tube's out there comparing ICE to EV costs. Yes the network is pants but its still in its infancy, Cars have been around 120+ years, EV's just over a decade, Give them a chance please. EV sales, yes they have slowed a bit, I watch many EV dealers and Auction houses on line in the UK on KZbin, They can't get EV's fast enough, Now Tesla dropped prices which did go through to market and made EV'S more affordable, which brought a lot of people like me who have a limited budget into the EV market. Battery degradation, Saw a you tube from a well known you tuber, sells EV's his own tesla has over 100,000 miles on the clock, 88% battery life, around 220 mile range. Not bad for and old EV is it, Batteries will out last the car. Mine has lost one bar out of 12 in ten years. ICE engines loose horse power as they age anyway so no argument there. Range anxiety, at my age its bladder anxiety, rather than range anxiety. Charging times, myth too. Pull up to a charger, plug in and off you go to the toilet, grab a bite to eat, if thats your want, whatever, time that takes, you get back to the car, blimey its charged and ready to rock and roll. ICE car, pull up to the pump, with all those lovely fumes, put on gloves if its a diesel, then stand for five mins in the cold filling the tank, while thinking I need the loo. Then stand in line to pay for your fuel, then park up, go to the loo and grab something to eat perhaps, Blimey that bloke in that EV is on his way already. EV's are not the cars for all and never will be, but they go a long way and will improve life for many, most people do school runs, shopping or work and their ICE car hardly warms up, EV's are instant. Government say the average drive is less than 20 miles a day. 90% of the day the car stand still. If you are lucky to have a home charger, you can preheat, defrost or cool the car before you get in, no scaping ice of the windows, Waiting for the heater. Never mention that anti EV brigade, do they?. EV are not the answer for everyone that is for sure, Already the have battery packs for over 1000 mile range. I cant drive 1000 miles in one go, can anybody? PS, EV cars don't use energy stuck in traffic jams like ICE vehicles do. I rest my case your honour. Sorry its a bit long but had to be said I think. Keep them coming and thank you, you are doing a brilliant job.

[@user-ig4xw6wd1r]

You wrote so much yet said nothing

[@myriaddsystems]

This is most sober analysis I have yet read. Everyone should read this

[@kubar69]

Brilliant right on the money, his video was one-sided, almost biased towards ICE vehicles truly Joe's worst investigating of a video. You hit it on the head with daily average usage, repairs and city air pollution, Joe missed all the important parts of owning an EV.

[@user-ig4xw6wd1r]

Are you joking?

[@rcchin7897]

If a new technology is more expensive and doesn‘t completely replace an old one, it‘s still in its Enthusiast phase, primarily driven by advocates. EV‘s still need to go through the Business phase, where businesses, such as those Amazon delivery trucks, and USPS mail trucks, pour the money necessary to further develop the technology. It then hits the Consumer phase, which requires low cost and replacement for current technology. We‘re getting there, but advocates, including the current political party, don‘t understand the difference between the Enthusiast and Consumer phase.

[@paulhill182]

As the owner of a EV (Tesla Model Y) I find the issue of range anxiety somewhat of a education or experience issue. First, I do have home charging and therefore 95% of my driving is covered by the car's 320 mile capability. For the few long trips the car provide a dynamic list of available charging stations. I live in a relatively rural part of North Carolina and having access to a charger has never been a problem. The time for a charging is typically about 20 minutes, which is about the same time it takes to go to the rest room and purchase some food, so its not a burden. The winning value of an EV is the excellent driving experience and the low cost of operation..... once you drive one you will never go back to a ICE auto.

[@zacksmith5963]

Reuters news agency investigation reveals how US military launched a clandestine programme to discredit China’s efforts.

[@dustyrider244]

I live in Thailand and the EV market has exploded with Chinese cars. They are excellent quality and charging points are everywhere. It a real shame that this market is not open to the US. I am currently looking at a BYD vehicle as they seem to be leading the race on build quality and reliability not to mention a very competitive price

[@chocotv3573]

Hi JB: The best content i've seen so far. This Tariff law should have been enacted for them a long time ago, and hope should not be abrogated.

[@Rockiii9]

I live in Beijing, where shopping centers & other commercial spaces, office buildings & residential compounds have charging stations. For many here, recharging is more convenient than refueling an ICE vehicle.

[@DK-ev9dg]

He is a paid western agent and China Russia hater

[@chrissmith2114]

Yeah, and all that electricity comes from dirty brown coal fired power stations..... very green, China also uses electricity from coal to build their solar panels and EV.

[@prastagus3]

infrastructure is key for EV

[@audistik1199]

No, no, and no. Most of this is unfounded fear and half truths, though Joe’s coverage of that is probably the most thorough. But it’s still fear and half truths. I could rebut and minimize the fears and erase many of the half truths, but it would take a presentation as long as Joe’s to do so. Let me say something simple here: I’m going to buy a terrific Model Y at a price far below what you’d pay for a polluting gas guzzler, Tesla is going to still profit from the sale, I’ll get a far better high quality, high-Tech car, it’s going to resell better than an ICE car, and I’m going to buy Tesla stock dirt cheap and profit handsomely when the automobile sales resume once the borrowing rates come down. And by the time that happens Tesla will own the car market and the rest will be near bankruptcy.

[@J1mbo197]

Have you considered how much coal was burnt to generate the electricity to charge these cars … Electricity in China is some of the dirtiest in the world !

[@MrBrandPeter]

I'm driving now an EV for more than 3 years, already did a trip of 1800 km in one go, with 9 charging stops, took me 23 hours including charging. The charging stops, about 30 min every 2 to 3 hours were very helpful for my driving focus. So range anxiety is mostly something you have before buying an EV, very seldom when having it, at least with a 75kWh+ battery. There are also plenty of charging possibilities, at least in western Europe. The single most annoying topic, especially in Europe, is the price and payment cards jungle for fast charging, and it's getting worse. Using the wrong charging card you could pay up to 5 (yes, five) times more at the same station. So 300km could cost you 20 Eur, with card A and 105 Eur with card B, same car, same station, same time, same kWh. That's ridiculous!

[@LiamDennehy]

One of the biggest challenges for residual vale is that efficiency was slow but constant. Battery efficiency has been meteoric, so a ten year old car's batteries are ridiculously inefficient versus new vehicles, and that hits resale value.

[@tenaciousrodent6251]

I guess everyone who was going to buy a Tesla has done so at this point. I see a LOT of Tesla's here in Belgium.

[@roberthofmannjr.7089]

Early adaptors are over and average person does not one as Joe Blogs mentioned here.

[@ZoomZoomMX3]

There too expensive

[@daniellarson3068]

I see quite a few here in Holland, ...Mich too. All Tesla needs is the inevitable bump in the price of gas and more will sell. Owners seem to love the car and hate Elon Musk. The plug in hybrid seems like the way to go.

[@jameshathaway5117]

Still the best selling car in the world...

[@stevemcgowen]

There are a lot more e-tons here in Prague than teslas.

[@mikaelkarlsson635]

This is a very interesting subject. Refill, thank you.

[@davidpearn5925]

Our BYD Seal has a safe rugged long life battery and a minimal maintenance electric motor. Big Oil, Big Dealerships, and Old Media are under threat. Our car can drive more than 400 miles/600 kms in the tank every morning....... it's LFP.😊

[@jsphfalcon]

the reason the model T worked was because everyone could afford it. And you could use many types of fuel. it was Rockefeller who steered everyone to gasoline. Electric is expensive and unknown. Does it last a year, 5 years, or 10 years. right now in the US, hybrids are in. Personally, I dumped my car when it broke down. I'm in for an electric unicycle and electric scooters. Some of them can go 75 mph and have a range of 95 miles. I can't wait for one that can go 350 miles. That's the distance between most of the medium towns in the southwest of the US.

[@rambo64bit82]

Go look up aptera

[@markpereira3194]

I pay 7pence per KW on an EV tariff I charge at night and have saved £700 in 6 months. I'm sure US energy providers have similar tariffs

[@jeffrummell2348]

Give me a video on a car company that sells a basic car. That is all I need. Remember when you had to roll a window down or didn't have A/C? That is what I drive. Have to go back to the 80's.

[@undercoveraca]

Check out the Dacia Spring.

[@carolgebert7833]

The problem is that the government forces the car manufacturers to fit into ever more stringent regulations which eat profits. The only way the manufacturers have to restore profit is to make the cars feature rich.

[@jeffrummell2348]

@@carolgebert7833 This is why I drive old cars. Ans can work on them also.

[@CharlieBam]

It also has to do with interest rates. Having super low rates for 15 years made payments way cheaper. Makers competed for market share by making more expensive cars and the basic line vehicle was no longer profitable. Long term low rates warp markets.

[@zenithdawn9646]

Russia is making them. No electric windows, no heater, no air conditioner, the dashboard is all analog, and combustion cars. They are "just a car."

[@jameswalker7899]

This episode was impressively timely where it captured news of the most recent hike in US tariffs. As always, this is an outstanding summary of the material aspects of the subject-matter, supported by detailed evidence and sound analysis. Warmest compliments. Thank you, sir. :)

[@zacksmith5963]

Then why is WTO and IMF standing with China ?

[@eddieohearn17]

What I am seeing is first time, buyers of electric cars are dumping their car and purchasing plug-in hybrids. In addition to that individuals who desire an electric car no they can’t charge it effectively so they two are switching to plug-in hybrid. The reality is, we will have oil and using oil for at least another 50 years at best.

[@mikeshaunnessey9303]

It's called the bleeding edge in Tech. The early adopters get to find all the defects and are paying the company to test their vehicles for them. Pinheads, in my opinion.

[@johnoliver5284]

when I bought my Tesla 3 it had been out for 5 yrs ie bullet proofed

[@rcchin7897]

You bet. Technology happens in three phases: Enthusiast, Business, and Consumer. Enthusiasts are the ones who can‘t comprehend that they‘re the beta testers and why everyone shouldn‘t be one as well. EV‘s are entering or in the Business phase, as Amazon delivery trucks and USPS mail trucks show.

[@AB-zf8lz]

Yes please, more on EV market movements please

[@mariomenezes1153]

Regarding Zeeker, still shows that there is a fool born every minute 🙄

[@zacksmith5963]

Ok prove it .

[@user-qm9qm3cq9r]

I love the phrase "range anxiety" like somebody is worrying about nothing. It not anxiety, it is just elementary maths. If I need to travel 300 miles, but my car will only do 200, forcing me to stop somewhere inconvenient for an inconvenient amount of time, that is simply a pile of rubbish and I won't be buying an EV. My diesel Toyota can run 450 miles easily on a tank, and takes 5 minutes to fill up just about anywhere I fancy. Until EV can do that it remains a very poor option. We consumers are not stupid. All the best, Brian.

[@kidlatazul]

About range anxiety: I've owned an electric BMW i3 for 8 years. This car is designed for city use and has a limited range. But for commuting, shopping, and trips around town it's ideal. I charge it overnight when electricity rates are low and I'm asleep. In the morning it has enough range to get me where I need to go. We actually have a huge number of charging stations in private homes: they're called 110V outlets.

[@ZoomZoomMX3]

Plus insurance rates are sky high in Canada for EVs... Tires cost double wear out 3x faster

[@undercoveraca]

But you basically never have to replace brakes because of regen braking and not much to maintain except washer fluid.

[@EwanM11]

The tires on my car aren't anywhere near that bad. They cost about the same and seem to be lasting fine, going from bmw ICE to Tesla.

[@cg986]

Got an EV for 7 years now. Not true. Besides that, never any trouble. Just some rusty brakes because I only use them in emergency stops.

[@rockyallen5092]

In the UK I changed from an old Ford CMax to a newer (much more expensive) EGolf and the insurance went down. Also just about to change the tyres after 30K miles. 50% tread left, just perished, so I doubt your 3x faster claim.

[@user-xp7nk9dw8d]

Not for chinese cars

[@larsandersson5146]

Been driving ev:s for years now, no disasters so far😂😂😂

[@stevezodiac491]

My 8 year old EV has lost 42% battery capacity with degradation over just circa 40 k miles. Never again !

[@denisphelan8987]

​​​@@stevezodiac491How many times would you be bringing an 8 year old ICE to have repairs done on it? You say you lost 42% or around 40 miles of the range - that you mean you had a range of 90-100 miles. The range of EVs (batteries) today is 250-500 miles far better than what was around 8 years ago.

[@zacksmith5963]

​@@stevezodiac491😂saw an interview with a guy in some 3rd world country living in a shack with no floor sitting on dirt. He explained the US China problem better then l've seen anyone do. . He flipped his plate: made in China Flipped his cup made in China. Everything in his shack was made in China. Then he asked what Americans make. Then he showed a fragment of a bomb with the US flag on it.

[@hectorchomat]

How do you price not having to go to a stinky gas station every three days? My wife and I have owned a Tesla Model Y since 2020 and is our only car. We love the car. When I go to the farm which is about 7 hours drive, I usually rent a car from Uber which is much cheaper than other car rental places. Unfortunately electric cars are not for everyone. One of the first thing to overcome is hiring an electrician to setup your electric charger at home. Learning the car is another issue. First I had to learn how to use the car and then teach my wife how to use it. If it would have been up to her to learn it on her own, that would have never happened. The good news is that once you have learned how to deal with the car, maintenance and all other issues are no longer typical problems to deal with.

[@flagmichael]

In few minutes my wife and I are taking our grandson to his mother's home in New Mexico, a 316 mile trip we make perhaps a dozen times a year, much of it across open desert. I don't go to stinky gas stations; the one we use in Gallup is nice and a fill-up only adds five minutes to our trip. Our daughter does not have a charger in her home, either, so we would have to sit and recharge somewhere. Our Prius averages a bit more than 50 mpg on the trip each way.

[@wtfroflffs]

Let’s stop calling it range anxiety. Makes it sound like people are worrying needlessly about it, when it’s an unavoidable extension of the time required to travel over a certain distance. We don’t suffer from range anxiety, we suffer from range limits.

[@Rockiii9]

When I heard that Zeekr was listing on the NYSE I thought it was Ground Hog Day. Totally aside from the fact that the company has yet to turn a profit, it relies on Chinese government subsidies (for which the EU has launched an investigation) & sells mostly domestically, in the world’s most competitive EV market. Anyone who believes foreign investors are going to be permitted to profit from the ADRs has a very short memory, as Joe points out. Remember Didi?

[@jean-michelvanpruyssen936]

But the EV market in China is not doing well.

[@ShadowebEB]

Well Joe didn't get it perfectly right on DIDI, they just got delisted, investors could have kept their money and in the end it would have been converted to the HK stock market, that's it. And you can even sell your shares after being delisted. Joe made it look like it was a complete write off, but look at DIDI after delisting, it went up quite substantially!

[@Rockiii9]

@@jean-michelvanpruyssen936Indeed, EV sales are down in China, Zeekr’s main market. I hope potential investors apply due diligence & recognize this.

[@Rockiii9]

@@ShadowebEBNot quite; the majority of buyers (of Didi shares) were, unsurprisingly, institutional buyers, who are typically not permitted to hold unlisted shares. Additionally, many mutual funds, pensions funds, etc are restricted to domestic markets. The shares are still traded on the OTC market, currently around 4.7. At IPO shares were 14, nearly 3 yrs ago. Didi has yet to either turn a profit or list on the HKSE.

[@ShadowebEB]

@@Rockiii9 and that's why I made a lot of money out of it, because I bought a few weeks before delisting, I sold after delisting. Basically I made money out of institutions that indeed couldn't keep it. It was so undervalued, the worst that could happen to me was the conversion to HK stock, which was fine for me.

[@s.m.7018]

The flaw in the reasoning in this video is assuming EVs are the same as internal combustion vehicles. Every home with electricity is a chargers point. With the significantly fewer parts to go wrong comes significantly fewer repairs and batteries have already proven to be good for 300+ miles of range and 300K before significant degradation. An ICE would have been replaced at least once at that distance

[@shj2000]

300K mile battery life? Doubtful.

[@auldfouter8661]

Flats have electricity but ........

[@TheAutumnNetwork]

​@@shj2000But its true, there are 300k Teslas out in the wild with effective battery life.

[@johnc2438]

@@TheAutumnNetwork Out in "the wild" with those unicorns I saw just yesterday! 🦄

[@chrissmith2114]

CarWow latest unreliability reliability data for 2024 show Tesla model Y at 6th place, Model X at 3rd place and BMW i8 at 1st place.... and also in the top 10 are Land rover and Audi. The main reasons Hertz and Sixt dumped their EV fleet were 'unreliability' , 'high repair costs' and the killer. 'very low residual values' ( cliff edge depreciation compare to ICE vehicles ). ICE cars have a history of lasting 20+ years and can easily and cheaply be repaired, but often do not need many repairs, especially if you get a Japanese or Korean vehicle.

[@paularthur8055]

I did enjoy today's video about electric cars and I would like to see more. The subject of EVs is fascinating to me and I try to learn as much as I can about all aspects of them. I think you might have overlooked one very important factor in getting the public to make the switch to EVs however and that is the source of the power to charge them. Currently in the USA fossil fuels (Including Natural Gas) still accounts for about 60% of the generation of electricity. In the UK the picture is better with fossil fuels accounting for 33% of electricity generation but that's still a very large chunk. There are many reasons for this but the largest is the reliability of wind, solar and ocean wave power generation. So if we really want to save the planet by discontinuing fueling our vehicles with electricity we will have to find better ways to reliably and economically generate "clean" power.

[@petergibson2318]

Some Americans used to bar Japanese cars from some car-parks during the 1960s. Look what happened......The Rust Belt. Everybody in the American Rust-Belt now drives a Toyota. Déjà Vu America. Déjà Vu.

[@robertclegg2609]

Hi, Joe! Apparently I'm in the in-group as you're at the top of my feed 1 minute after listing. Good morning!

[@jamesgrover2005]

11:01 1st quarter 24 looks exactly the same as the 1st quarter 23.. Infact you start in March 23 and March 24 is up on March 23. The conclusion you drew is that sales are down. They are not down on the same month from the previous year 💁‍♂️ They are down compared to the last quarter, this is what you call comparing apples and pears.

[@waynethurecht9441]

You may also want to know who the underwriters are for these IPOs and who are the financial institutions that are supporting the IPOs with significant investments as it would demonstrate a significant lack of due diligence being observed. The shareholders of these financial institutions would not be impressed.

[@patdbean]

19:23 no, if you charge at home on an overnight EV rate. You can still charge here in the uk for 2-3p a mile.

[@stevezodiac491]

but 26 p per mile on the motorway, 11 p per mile more than my diesel car because I don't have to buy diesel on the motorway with a 650 mile brimmed range. We also have an EV, it has degraded 42% after 8 years and circa 40 k miles, it is now only used, tethered to it's home charger range as a shopping trolley for the wife. Never again !

[@patdbean]

@@stevezodiac491 how many miles has it done? Because most EVs have a battery warranty of at least 8 years and normally 100,000 miles what ever comes first.

[@patdbean]

@@stevezodiac491 as far as the 26p a mile for motorway charging goes. With the average car driven 140-180 miles a week. And the average range now well over 200 miles. How much charging is done on motorways? 10-15%? Afterall 70%+ is done at home and most of the rest at other destinations.

[@disturbingdevelopment4308]

I can't smugly look down on other drivers when I cruise around in my Hyundai Ioniq because 75% of the cars are bigger: SUV's, light and heavy commercials

[@hydroac9387]

I've had a Toyota Camry hybrid since 2014 and I couldn't he happier with it: great range, efficient mileage, really reliable (in fact, I haven't had more that standard maintenance in costs), and because I live in Chicagoland area I can go on long trips using the established gasoline stations. After 10 years I haven't experienced battery fatigue that Joe mentions. My sister has a Tesla Model S that she bought about 8 years ago, and she couldn't be happier: it suits her needs in the LA area, great range, ready access to an established Tesla charging network if she needs to (she has a supercharger in her home), and it's perfect for city driving. Bonus points for *great* acceleration and still looks great . She hasn't experienced significant battery fatigue either. The lesson? Buy a car that is appropriate to your needs.

[@prastagus3]

hybrid is the way to go in US with its lack of EV infrastructure

[@Arseve119]

Hybrid? Thats double trouble.

[@oliviertwist4955]

Joe, you are partially wrong about why people not to want to buy EVs. The most important factor is the time it takes to fully or, even up to 75%, charge the EV battery. ICE car can be fueled within 5 minutes, including walk from the pump to the gas station attendant and paying cash, for example. With EVs paying cash is not even possible. The only possibility is an automatic payment at the charger after having to spend at least 30 minutes while the battery is being charged, excluding the time spent in the queue to the charging port.

[@zacksmith5963]

The US can't compete . Notice how that lady interviewer said its good for the US to subsidize our auto industries but China is bad for subsidizing their auto industries and its over capacity.

[@bobcapen1682]

If we all moved to buying EV's the grid would provide brown outs like never seen before!

[@icu17siberia]

A lot of Americans are thinking about that, and the supply chain…specifically mining

[@leroyharder4491]

These objections are overblown. We recently got a model Y, have done some road trips with it. My wife went on a week long trip and she was nervous about it. The trip went very well and she is now confident with the car. I was worried that she wouldn't like it as I was the nerd who did the research, but she loves how the car drives and the safety features. Main complaint? Lack of AM radio. There are lots of high mileage Teslas and so far their battery track record is very good. To replace a battery would be expensive, but replacing any major component of a car is expensive. We only charge to 75%, live a bit out of town and have no issues with range. I sometimes use it for delivery and have no issues with range. I don't even think about it. Meanwhile we save $300/month in gas. We anticipated getting an ev and put on solar panels to offset higher electricity use. On a sunny day we get about 55kwh compared to a battery size of about 75 kwh. No way we make full use of the battery on a daily basis. We have lots of room to expand our system. We live in the country, do country things and going electric makes lots of sense for us. For many country folk, electric is a good option because they have infrastructure in place. The cities will take more adaptation as the backbone of the power grid will have to beefed up. That said, when I have lived in apartments, there has been underground parking and it would be easy to wire charging ports, and maybe do it more efficiently as with a shorter commute, you don't have to charge every day. US and European car companies have been going for the high end market, when the most of the market wants cheaper cars. I can see the need for tariffs on Chinese cars, but not too high. I would put an end date on them with a strict warning for local OEMs to get their act together and address the more affordable market. If it isn't being served by local companies, then I would bring in the cheaper Chinese cars.

[@mr.makeit4037]

I still believe, for now, that the electric car market will be focusing on the hybrid and plug in hybrid.

[@wam7484]

No, because of progressive government push for full EV. Yes, if logic were the controlling factor.

[@girowinters]

Oh so you want the worst of both? Dragging around big chunks of metal that are idle? They actually pollute really badly and the vehicle manufacturers have been lying about it

[@mr.makeit4037]

​@@girowinters I still believe that the industry is moving in that direction despite the irrelevant remarks made.

[@aivy-aigeneratedmusic6370]

How can you call this a disaster when at the same time All of those chinese companies didn't even exist 10 years ago? They conquered the market in record time.

[@natehendricksen3338]

Thanks Joe. Great report. Two negatives you didn't mention. 1) cost of collision insurance is high because even small accidents can jeopardize the battery resulting in total loss. 2) EV's are not very green. Bigger environmental impact to produce than equivalent ICE and huge impact due to short lifespan with disposing of the batteries. Regarding the US investment in Zeeker, Many people have huge investment firms managing their retirement accounts and rarely know where their money is being invested. Those managers make a profit whether you lose money or make money..

[@raydunn2582]

"There's a sucker born every minute" - P.T.Barnum

[@user-xp7nk9dw8d]

40 US banks reporting security losses 50% greater than their equity capital because of the rise in interest rates since the end of last year, leading to another banking crisis. 30 days count down to collapse. .

[@seanstansbury5585]

Thanks

[@Paul-uf2ou]

If every car owner had an electric car there would not be enough electricity in the grid ,imagine that!

[@Let_the_nonsense_blaze.]

This is not really true. Even America a country with the most driven miles per person needs 80365 extra MW/h. production cap. to cover every mile by electricity. The current consumption of electricity has been on average 1,2 million MW/h. hence we need roughly a 10% increase in electricity consumption and production. It's not so unrealistic once you start calculating. People just do not understand how much we actually already consume electricity today, it's just enormous.

[@kushkant4847]

Not a single Chinese EV has passed the U. S. safety standards.

[@chrisaris8756]

Range on EVs is far more dependent on the speed you drive, whether there is a headwind, keeping up continuous motorway cruise speeds. The unreliability of charging stations and whether they are actually working. The time take to charge is usually longer than you said. And don’t forget the horrific depreciation on EVs. Some dealers will now not take an EV trade in unless you buy a new EV. They are swamped with the things. The charging network is highly dependent on the local electricity infrastructure - some charging stations have had to be turned off or switched to very slow charging rates because the grid cannot meet the demand.

[@benlamprecht6414]

Thanks for yet another excellent video. It is most strange that some people still invest in Chinese companies, and investing into Zeekr provides a particularly good way to lose all one's money. It make no sense whatsoever, particularly when one can invest in BYD, should you wish to invest in a Chinese auto manufacturer. FYI. Tesla is not closing it's charging stations, on the contrary, they have made them available for all other manufacturers too. The sales of EV's, including Hybrids, are now 60% of all new sales in China. The Chinese EV's are excellent value for money and will probably also dominate sales outside China, the USA and maybe EU.

[@undercoveraca]

Agree that the Chinese will dominate EV sales outside China (and the USA now the tariff on Chinese EVs is 102.5%). US and probably Europe will do enough to save their auto industries with tariffs. However, it's the Japanese whose sales have collapsed in China and whose sales will probably be replaced by Chinese EVs around the world. There aren't any major barriers to EV uptake IRL. Joe doesn't seem to understand how easy and cheap it is to charge EVs on regular electrical outlets and how easy it is to charge on major travel routes. Plenty of surveys show strong purchase intentions for EVs among people planning to buy their next car. 50% for 2000 Australians recently surveyed.

[@davidguy209]

The same F.U.D. we've been enduring for 20 years. I've had my ev for 4 years. No problems. Yesterday, I had my M.O.T. at a garage 10 minutes walk away. Obviously, it will take time for charging facilities to be omnipresent, but I charge at my local Tesco 5 minutes walk away...

[@RodJ58]

Hertz Car Sales is selling 10's of thousands of used EV's. This has to have a major impact.

[@icu17siberia]

And there’s a reason they’re selling them

[@RodJ58]

@@icu17siberia Ok... What might that be Mr. Knowitall?

[@EfieldHfield_377]

In the US the car market is down all around, EV, ICE all down. There are layoffs from Tesla, but also on the ICE OEMs and more so. You have to mention the very high cost of a new car when you are seeking factors as to why US buyers have slowed. There are only so many fools willing to buy an $70K+ pickup truck or luxary car. Heck even basic cars they push only the fully loaded which pushes the price beyond basic.

[@biondanishgenomeinstitute8193]

Zeekr is a car brand of Geely, which has been in Europe and Scandinavia for years. They have research office in Sweden for example. It may be the highest quality chinese-developed car. Have you forgotten to read about it?

[@Stan-at-KangarooIslandTV]

This is so disappointing from Joe, I am frankly surprised.

[@shinbi6009]

Joe is anti-China so of course he’ll be misinformed.

[@danielchin5920]

Yes, more EV postings and your thoughts is always good to see, Joe!

[@RAFASOP]

If the range was 300 miles and 5 minute charge would prefer over 1000 miles and 10 hours charge.

[@sxmNice]

What makes sense is as Toyota is doing: a plug-in hybrid. With just 30-40 miles range you have enough to cover commutes and local errands, accounting for 90% of GES emissions without taxing the planet for rare earths.

[@vicmontes7314]

Tesla electric motors no longer use REM.

[@stevefairbanks835]

Still uses rare earth minerals! They have batteries

[@10317]

I think Toyota and the hybrid vehicle is a better idea then just dtrsight electric.

[@sxmNice]

@@vicmontes7314 not the motor, the battery. The motors use a lot of copper. You need to move 200 tons of dirt to make 1 Tesla.

[@neilclaughton9881]

Hybirds have an engine that needs servicing and a battery for when it is running on electric so servicing and battery to change double costs. Yes you don't have range anxiety but the expense is there to have it. Also electric batteries in cars have a habit of catching fire if damaged. The Luton airport fire was caused by a hybird battery in a diesel hybird NOT a diesel fire. People are not stupid. EVs are a fad and are not green the CO2 produced just to build an EV battery is huge and not all recharge electricity is from Green sources. It's a huge con!

[@jameshathaway5117]

I'm still significantly up on my Tesla stock. The one thing I'd say for Tesla is if you aren't long stay away from it. If you are then this may actually be a decent time to get your foot in the door. I bought the stock for my kids so I'm still at least a decade out on my timeframe.

[@Arseve119]

You are a visionary investor, which in the comments i hardly can find anyone at all, great post.

[@Chimp_No_1]

Incredibly interesting and helpful ! Thank you for sharing !

[@geoffwell]

Joe, love the show, patron supporter, almost everything you said about EVs was wrong. :). As an EV driver I almost never go below 80% charge. Never worry about range. Also, never worry about battery life. It's not a Tesla, it's not a status symbol. It just makes sense. And I haven't been to a mechanic in five years. Love you buddy!

[@dougfolkerth3622]

I have my Tesla M3 since 2021. LOVE it. Range is not an issue. Super chargers are plentiful, maintenance not a problem.

[@contraplano3157]

13:21 My EV has 10 years old. I AM pre-historic?

[@chalupacabre1616]

Don't comment on EVs unless you've operated one for at least 1 year

[@royjones8475]

scaremongering on electric cars, less moving parts and less to go wrong, if you checked you would find most new electric cars have a hidden buffer at low and high end of the battery, one to protect the battery and also to not lessen the range over the years, buffer just decreases. Range anxiety - producing a car that can do 1000 miles ? what petrol car can do 1000 miles on a full tank ?. Every new product starts with a high cost and comes down over time, this is showing now with some new ecectric cars being in the low £20 k. Public charging price is an issue at the moment but cost of council planning permission and installation has to be paid for but more are being installed and price will come down with competition as in norway where they have more electric cars than ice cars and banks of chargers everywhere. I agree with you on shortage/choice of garages, my local garage said the cost of buildings insurance would go up a large amount if working on electric cars and the insurance for the motorist is a lot higher also. I have a hyundai i30 diesel 1.6 and due to low emissions have not had to pay road tax for the 10 years i have owned it but if we had more options on servicing in our area whould change to electric car in a heartbeat, if only to reduce pollution. Also a lot of fleet electric vehicles are now on the market usually 3 years old and for half the price of a new car Result !!!

[@Pitollie]

So informative. The US is so big, the range just isn't enough right now and the battery replacement cost can be $15K. It's a lot to consider.

[@mahendirangopal3885]

To my experience battery vehicle substantial savings are there compared to gas vehicles. 4 years per battery change

[@pablosskates7067]

@@mahendirangopal3885yeah but that’s the overall saving if you factor in resale value. I just sold my car for $500 which is nothing but I managed to get nearly 25 years out of it. I don’t think any EV would last nearly as long.

[@makeitgreener642]

FYI it is a requirement that battery packs must last at least 8 years or 100k miles. This is a legal guarantee to warrant the packs.

[@tomasdale5306]

From El Salvador, my electric car from Bolivia, BUT chinese electric engine, $14,500, enough 200km range for daily commute, no need for Tesla

[@Pitollie]

@@makeitgreener642 but then you have an 8 year old car needing $15K in batteries. I guess you just toss them out at 100K?

[@heidiwilks5316]

I’ll venture that range anxiety is no longer the issue in EV adoption - it was when Nissan Leafs and Kia Souls from the mid-teens were getting about 100 km range, but now that EV range is averaging 300-500 km (or more), the main issue now is the initial cash outlay. Even though most realize they will save $$$ over the course of the vehicle’s life, that initial price point is still an obstacle to many - though this will alleviate significantly in the coming years with continuous improvements in battery technology & efficiencies.

[@Poepad]

The only issue is charging. It works good as a 2nd car that you use 90% of the time. Most families fight over who uses the electric car cause they don't have to stop and get gas.

[@philippayne6655]

Love to learn what you think about BRICS Joe👍

[@ZenPyramid]

My main anxiety with EV's is repair anxiety. None of the old school mechanics wanna retrain, they don't wanna get electrocuted...!

[@adrianlang6550]

Aldo a terrible dilemma going forward is there are no known ways to re cycle the batteries.

[@girowinters]

Batteries are 98% recyclable. Redbush materials are already doing it. When did you last recycle your petrol?

[@jgarretson51]

Tesla has NOT closed its charging network. It simply fired (or laid off) 500 people in HQ responsible for extending it. Some of those have been hired back.

[@steveblomefield9513]

joe, you must do more research. Battery prices have crashed. Lithium is common and mines have been found all over the world. Over supply, price crash.

[@ianlouden7939]

Running out of petrol or diesel is one of the major reasons for breakdowns in the UK, but range anxiety does not exist for fossil burning vehicles, it's a mental block for some.