The Next Big Crisis | Why The EV Market Crash Is Only The Start

Today, we're delving into the complex landscape of electric vehicles (EVs), exploring both their potential and the challenges they face. Despite the hype surrounding EVs as the future of transportation, their path forward is fraught with difficulties.
Key issues include:
Software and Cybersecurity: Modern EVs rely heavily on software for essential functions like battery management and autonomous driving. This dependence introduces new vulnerabilities, as seen in a major 2020 recall due to a software glitch. Cybersecurity threats are growing, and while manufacturers are investing in protection, the evolving nature of cyber threats poses a constant challenge.
Market Slowing: The EV market is showing signs of a slowdown. Even leading companies like Tesla are experiencing drops in sales, despite price reductions. Middle-class adoption is lagging, and hybrids are becoming a more popular and accessible alternative. The dream of achieving widespread electrification seems increasingly distant.
EV Junkyards and Used Market: The market for used EVs is struggling due to high repair costs and the tendency for EVs to be treated like disposable electronics. Battery issues and repair complexities lead to vehicles being written off by insurance companies, further discouraging the used car market.
Cost and Lifestyle Adjustments: EVs remain significantly more expensive than traditional cars, with costs for repairs and replacements being high. The lifestyle changes required for charging and managing range anxiety are also a barrier for many, particularly those in the middle class.
Sustainability Concerns: Although marketed as eco-friendly, the production of EVs has a larger carbon footprint than traditional vehicles, and much of the electricity used to charge EVs still comes from coal-burning power plants.
Infrastructure and Supply Chain Issues: The charging infrastructure is lagging behind market growth, with fewer chargers available than needed. Additionally, the supply chain for critical components like lithium, cobalt, and nickel is unstable, driving up costs and slowing technological advancements.
In summary, while electric vehicles hold great promise, significant hurdles remain in software security, market adoption, repair costs, lifestyle changes, sustainability, infrastructure, and supply chain management. The future of EVs is uncertain, and it may take considerable time before we see a widespread shift from combustion engines

[@nathanroberson]

This video was made by old ICE car makers that can’t program.

[@clydehdoctor2590]

There seems to be a coordinated campaign to disparage EVs which is pure bullshit. EV buyers are just as smart ICEZ buyers who shop carefully and make their car buying decisions with full knowledge of the advantages and disadvantages of their purchase. MY 2019 Bolt has met my needs perfectly.

[@mauricedegroff5669]

Evie’s aren’t crashing internal combustion. Cars are crashing in a big way around the world maybe not in the United States but around the world it’s crashing.

[@alexalberta]

Very inaccurate video. EVs are superior in every aspect over ICEs. The reason that there is still hesitation among consumers is because of poor charging infrastructure. It is very easy to see that EVs have much lower cost of operation and maintenance and in that it does not make sense to buy an ICE car that needs thousands of dollars in cost of fuel, oil change, brakes, etc. Manufacturers are also hesitant because of smaller margin and loosing the income from maintenance of the ICEs.

[@stevelane1956]

You need to have serious mental challenges to even consider an electric milk float, Insurance costs are going to skyrocket, that`s if you can find any company stupid enough to insure you. Mobile incinerators which are already being banned from some car ferries and underground parking facilities. Catastrophic depreciation, they depreciate faster than they accelerate.

[@Jmirko72]

Complete bullshit.