Post by
Obscure1 on May 18, 2023 1:34pm
Alex Wallen (CEO of Motor Trend) says 78% plan to buy an EV
https://ca.finance.yahoo.com/video/evs-tesla-cybertruck-lucky-keep-151117312.html
That number was about 30% a year ago and about 10% the year before
Yesterday, IDRA, the Italian company that makes Tesla's Mega Presses that stamp out unibody parts that eliminate hundreds of parts, announced that they have sold their first Mega Press to an American legacy auto maker.
No names were dropped, but I suspect that the company is likely Ford as the company has committed fully to an EV future. Given that Ford lost 102% the revenue for its EV sales in Q1, they need the production efficiencies of a Giga Press to eliminate the hundreds of parts that they are putting into their existing vehicles.
Of the 13.8 million light vehicles sold in America last year, 2.9 million were automobiles and the other 10.9 million were small trucks and vans.
WHEN Tesla and Ford start pumping out EV vans and pick up trucks, the "S" Curve adoption rate of EV's (and the corresponding "falling off a cliff" decline of gas powered vehicles), SU better have a plan in place. I think the timing of a precipitious decline in gas powered vehicles in North America will be in place by 2027. Maybe I'm off by a year or so but I doubt it.
Comment by
Torontojay on May 18, 2023 2:57pm
The P/E ratio for Suncor could go lower over time as investors will have a harder time justifying a higher multiple.