News Article

Will EV Supply Miss the Demand Mark in the Short and Medium Term?

ev charging station

WASHINGTON -

According to Forbes contributor David Kiley, and Wards Automotive columnist John McElroy, there may be an impending “carpocalypse” of electric vehicles on the way. Sounds very damning and it’s certainly not the upbeat tone I’ve taken on nearly every piece of EV demand content I’ve authored but the author, Kiley does bring up some interesting points worth considering. EV Adoption is happening, and it’s certainly doing so at ever faster rates. The infrastructure (charging stations, utility cooperation) is being built out more slowly than vehicle manufacturers are producing cars but the issue seems to be just that, maybe even the short and medium term plans for EV manufacturing are too aggressive.

#google#

With new EV and plug-in hybrid vehicle sales representing a mere .6% of new car cales in the US, car makers are are going to be spending more than $100 billion to come out with more than a hundred models of battery electric vheicles which also includes PHEVs and the fear is these vehicles aren’t going to sell in the numbers that automakers and industry analysts may have expected. But forecasts are just that, forecasts. So there’s a valid argument to be made that they’ll either overshoot the true mark or come in way below the actual amount. With nine U.S. states mandating that 15% of new cars sold be EVs by 2025, you could say that at least automakers have supporters in state government helping to push the new technology into the hands of more drivers.

Still, it’s anyone’s guess as to what true adoption will be. The use of big data and just in time manufacturing will ensure that manufacturers will miss the mark on EVs by less than they have in the past, and will able to cope with breaking even on these vehicles for the sake of gobbling up precious early stage market share. After all, many vendors have up to this point been very willing to break even or make a loss on their lease-only EVs or on EV or hybrid financing in order to gain that share and build out their brand awareness and technical prowess. With some stops and starts, demand will meet supply or supply may need to meet demand but either way, the EV adoption wave is coming to a driveway near you. 

Related News

harbour air ev plane

Harbour Air eyes 2023 for first electric passenger flights

VICTORIA - Float plane operator Harbour Air is getting closer to achieving its goal of flying to and from Vancouver Island without fossil fuels.

A recent flight of the company’s electric de Havilland Beaver test plane saw the aircraft remain aloft for 29 minutes on battery power alone.

Harbour Air president Randy Wright says the company has joined with a new battery supplier to provide a lighter and longer-lasting power source.

The company hopes to get Transport Canada certification to start carrying passengers on electric seaplanes by 2023.

"This is all new to Transport, so they've got to make sure it's safe just like…

READ MORE
hydrogen electricity

Europe must catch up with Asian countries on hydrogen fuel cells - report

READ MORE

solar

Solar produced 4.7% of U.S. electricity in 2022, generation up 25%

READ MORE

usa renewable energy increases

25.5% Of US Electricity Coming From Renewable Energy

READ MORE

New Brunswick EV program

New Brunswick announces rebate program for electric vehicles

READ MORE