this post was submitted on 30 Oct 2023
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Electric Vehicles

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Panasonic cuts battery unit's profit outlook, warns on high-end EV sales | Reuters (www.reuters.com)
submitted 11 months ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 4 points 11 months ago* (last edited 11 months ago)

Because no one has figured it out yet at scale.

Getting the car to the fabled 25k USD before incentives just isn't profitable yet, the batteries are too expensive.

GMs bolt, which is the cheapest out there, isn't profitable. They're selling it for the ZEV credits they get. They'd go bankrupt if they tried to sell a million of them a year as is.

We would need a range restricted commuter car to get to those prices right now, but those just don't sell well at scale either.

And now with interest rates so high it's even more difficult, because even that 25k car is substantially less affordable.