The EV Bubble Has Burst
The impractical reality of electric vehicles is dawning on consumers and costing manufacturers dearly. It'll cost us all a lot more if we ditch petrol power for good.
Eventually every bubble bursts.
When it comes to investing, those implosions destroy wealth and optimism about the future.
Corporates often make the same mistakes as individual investors, chasing fads and ignoring fundamentals in pursuit of the latest thing.
They labor under the delusion that 'this time is different'.
That's how it came to be that motor vehicel manufactureres are feeling the pain now that people are waking up to the electric vehicle (EV) mania.
You'll recall that EVs have been pushed by rent seekers, climate change zealots and idiotic governments as the future. Some nations have even mandated an EV uptake, sentencing their citizens to an environmental and financial nightmare in the years ahead.
Now the manufacturers of these toxic potential fireballs are feeling the heat.