Thursday, December 12, 2024

Tag: The Electric Car Revolution is Coming Crashing Down

The Electric Car Revolution is Coming Crashing Down

by Will Jones, Daily Sceptic:

The state-subsidised electric car market has crashed in China and the country is trying to dump the vehicles on the West, but the same is happening here as well. For manufacturers it’s going to be a blood bath. Ross Clark has the details in the Spectator.

China is often characterised as a copycat when it comes to industry and technology but in one way it has proved to be a pioneer. It was China which saw the first boom in electric cars – and it was China that was the first to suffer when demand for them collapsed. The vast graveyards of unsold vehicles found in Hangzhou and other Chinese cities are the result of a huge, subsidised push to manufacture electric vehicles, demand for which has never caught up with supply. Ride-share services bought the vehicles– in a rerun of the great cycle-share fiasco of 2018, which led to piles of unused and unwanted bikes. But private buyers have been notably less keen.