EVs -- Reality Setting In -- January 18, 2024

Locator: 46584EVS.

Themes, 2024, link here:

EVs: have lost their luster

• 2024 was to have been the break-out year for EVs
• high interest rates and the long UAW strike will push this transition out at least another three years (2027)
• it's obvious that EVs are luxury cars, and Americans are subsidizing rich folks to buy luxury cars
• state governments will realize that lost gasoline tax revenue is a huge problem for highway maintenance, much less new highways

Updates

Saturday, January 20, 2024: link here ---

From the linked article:

Tesla is on the cusp of an ignominious record. If shares close lower on Friday, it will be the tenth trading day of losses out of the first 12—the worst start of any year in Tesla’s history.

Shares fell nine out of the first 12 trading days to start 2015 and 2016. Still, Tesla’s recent performance looks absolutely glowing compared with some peers. Shares of Chinese EV makers NIO, XPeng, and Li Auto were off 4.5%, 4.1%, and 3%, respectively, in Friday trading.

For January so far, NIO shares were down 34%, while XPeng dropped 35%, and Li shares were down 25%.

There isn’t much new to pin Friday’s declines on. Instead it’s a continuation of a significant theme: Chinese EV price wars that have weighed heavily on investor sentiment.

Original Post 

Disruptive:

• EVs: link here. Scorecard. 
• cash burn
  
• graphite
• not for me. "Energy transition is dead" is followed here.
  
• EVs charging. 
• cold weather -- reality sets in
• resale value -- a deal-breaker
  

Tesla: All major EV auto manufacturers were down today, including GM, F, Tesla, Polestar, Lucid, Rivan, some significantly. From Barron's: 

The US Army:

My take from the Barron's article: this is all to be expected. It's a learning curve. Deal with it. 

Frankly, I'm getting tired of that attitude.