EVS -- An Unmitigated Disaster -- An Update -- August 11, 2023

Locator: 45418EVS.

I'm in the process of "doing" an "EV 101" post -- I may get around to posting it this weekend, but unlikely. Stay tuned.

For today, this -- as part of the "EVs -- An Unmitigated Disaster" series. The updates are a "cut and paste" from one of my other blogs.

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Updates

August 11, 2023: GM unveils their new 2025 Cadillac Escalade IQ:

• range: 450 miles
• 24-module battery: 200 kWh
• using the 800-volt DC fast charger: 100 miles range in 10 minutes
• this is the quickest form of charging currently available
• more power than the current supercharged V-8 SUV Cadillac Escalade
• starts at $130,000 vs average price off $115,000 for the ICE version
• Cadillac's first major step into the traditional vehicle lineup as an EV
• distinguishes it from Cadillac's Lyriq and Celestiq EVs
• Cadillac plans to make its entire lineup electric by 2040
• Escalade's current profit margins: 30%
• will be produced at a Detroit factory alongside the GMC Hummer EV, the Chevrolet Silveraado EV, and the Cruise Origin Shuttle EV
• the ICE version will continue to be manufactured at GM's Arlington Assembly in Texas.
• Escalade IQ sales likely to ramp up toward the end of the decade
• larger / more room than current ICE version
• following the announcement, GM shares dropped almost 6% and are falling again, today (August 11, 2023); GM shares are now trading at $34
• one can find headline stories: analysts recommending GM as a buy; in fact, I think Zacks has GM ranked #1 

August 11, 2023: Ford will transition to fake EVs -- hybrids -- for now -- just announced this week -- will cut back on BEVs -- losing too much money -- Ford will use hybrids as the transition from ICE vehicles to BEVs; it's very clear from the CEO's remarks that no one at Ford really believes in fake EVs but they are facing a financial disaster; Shares: down almost 5% after the announcement, now trading at $12.15.