For automakers small and large, old and new, transitioning to a mostly electric future has not been an easy endeavor. Or a cheap one. With the established 'legacy' car companies, this has meant ramping up battery and software operations—and learning to make EVs correctly—while keeping profits up by selling gas-powered cars.
Now subtract the ICE powertrain, which Loh said is around $4,000 per vehicle. 'That's what gets you to minus 10% , or minus $6,000, as opposed to plus $6,000 profitability.' In other words, it just comes down to high capital costs right now in the early stages of EV development, being built at operations that aren't yet fully at scale. There are obvious exceptions to this, of course.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Car Companies May Lose $6,000 On Each EV Sold For $50,000A new Boston Consulting Group report outlines the challenges automakers face as they scale up EV production.
Read more »
California 'Waymo' bill aims to give cities more authority over self-driving car companiesCalifornia Senate Bill 915 proposes to empower cities to issue their own local permits for self-driving car companies.
Read more »
California Bill Seeks to Grant Cities More Authority over Self-Driving Car CompaniesA bill aimed at granting California cities increased authority over self-driving car companies is gaining momentum statewide. This move comes amidst the expansion of services by autonomous vehicle giant Waymo into San Mateo County.
Read more »
For Car Companies, It's 'Damned If You, Damned If You Don't' With InvestorsPlus, car dealers, who never wanted to sell EVs anyway, are extra down on them lately, and Tesla settles a racial discrimination lawsuit.
Read more »
For Car Companies, It's 'Damned If You, Damned If You Don't' With InvestorsPlus, car dealers, who never wanted to sell EVs anyway, are extra down on them lately, and Tesla settles a racial discrimination lawsuit.
Read more »
Automakers tracking drivers, sharing data with car insurance companiesAutomakers are using vehicles' internet-connection capabilities to track consumers' driving behavior and sharing the data with insurance companies, a new report reveals.
Read more »