https://driveteslacanada.ca/news/chargestop-opens-canadas-first-ev-only-service-station-in-edmonton/
EV sales in 2023 made up 24% of all auto sales in Europe (the #3 auto market in the world) - 25% in Californian (#5 market in the world) - 25% in Germany. In China (which makes up over 1/3 of the current world auto market, EV's made up 56% of all new auto sales in the most recent month.
Who cares. Nothing to worry about. It is not like Volkswagon is shuttering auto plants in Germany for the first time in its 87 year history citing their inability to compete.
Nothing to worry about for the legacy auto makers who are all shutting down operations in China. After all, China has only generated 50% or more of the corporate profits for most of the legacy auto makers for the past 10 years, so that is not a big deal at all.
The USA and Canada have slapped 100% duties on Chinese auto makers to protect domestic jobs which basically forces us to buy overpriced and inefficient ICE cars. Canada bailed out GM in 2008 to the tune of $10 billion to protect jobs only to see GM give Canada the finger. At least we can count on the politicos to do the wrong thing again and again.
Nobody will even notice when Tesla introduces its next generation sub US$25.000 car in LA next month. That new model will likely sell for about Cdn$27,500 after the Cdn Fed $5000 EV credit in Canada (or less in some provinces).
Why would anybody buy a brand new Tesla for $27,500 with an 8 year warranty that runs for pennies on the dollar vs ICE cars when my local Kia dealer is offering a 5 year old Kia Sportage with 96,000 km for $22,500.
But those damn batteries are so expensive and they don't last very long. Well, not really. They they can now be replaced for around $5k and last up to 1 million miles. The 8 year warranty makes battery replacement irrelevent for most car buyers.
Let's not forget that 96% of EV owners charge at home (almost for free) and never have to go to a gas station, or do oil changes or brake jobs. The other 4% have to find one of the 27,000 public chargers now available in Canada. That number is growing by about 10,000 new public chargers per year.
Kamala embarassed Trump in the debate this week which likely means we have 4 to 8 years of Harris ahead of us. She is going to be wayyyy more green than Biden but that will soon be irrelevent as the math is already so lopsided in favour of EV's that it is difficult to see the politicos messing it up.
The future's so bright for Suncor with it 100% commitment to oil sands and its 4 oil refineries and 1,500 gas stations that SU shareholders gotta wear shades.
Don't shoot me, I'm just the messenger. Have a good weekend everybody.