EV Bubble Popping… US backs away from forced EV sales targets

By Jo Nova

History shall record the ignominious boom and bust of a car genre forced on citizens so they could produce better weather.

Things are so bad, Joe Biden has even put the brakes on his aggressive EV scheme, stepping away from the 2030 deadline. “It’s just a delay” of course. The plan would have forced car manufacturers to sell 3 EV’s for every 2 cars with a combustion engine by 2030. If customers didn’t volunteer to buy enough EV’s, companies would be forced to jack up prices of the cars everyone wants in order to cross-subsidize the discounted sales of the unpopular EV’s. Car dealers were appalled and said so.

EV sales growing in some places but falling in others. The shift has been so fast the full length of the supply chain is in turmoil. The price of lithium has fallen 90% from it’s peak, nickel has halved. Ford has sacked 1,400 people. GM has cut its workforce by 1,000. Hertz is selling one third of it’s electric fleet and cancelling $3 billion dollars worth of forward orders. A month ago, the biggest political party in the EU decided it would rather drop the ban on […]

Just pause for a moment to appreciate how fast the EV transition is coming undone

Image by GrumpyBeere

By Jo Nova

Last year the acceleration in EV sales stopped accelerating. The industry was still growing they said, just not quite as fast. Now, so soon, the sales are actually falling. In the UK, EV sales dropped off a cliff, falling 25% last month. Perhaps it was just a bad month? But in California, home of global green dreams, sales have also declined, and for the last two quarters. Ominously, this is happening despite government decrees insisting every new car sold in 2035 will be an EV. Sales are supposed to be launching into orbit. Something is very wrong.

Meanwhile Hertz has taken yet another step away from their EV quest — after announcing they were selling off a third of their EV fleet at bargain basement prices, now they are cancelling plans to buy 65,000 Polestars. This was a $3 billion deal, and to let them out of it, Polestar has, by golly, demanded Hertz give them the right to buy back the old Polestars that Hertz wants to sell — that way Polestar can keep the older models off the secondhard market and stop the value from falling the same dire […]

What a backflip: The Biggest political party in the EU now wants to drop the ban on petrol and diesel cars

By Jo Nova

The voter backlash begins

How much more would the car lovers and petrol-heads of Europe take? In draconian style, last February, the EU declared all petrol and diesel cars would be banned from 2035. It was their star policy for the Net Zero push. Car makers would have to cut their emissions by a shocking 55% by 2030 and an unthinkable 100% by 2035. It was to be the end of an era.

The idea was so big and embedded in the EU that only one month ago an insurance insider warned that his company was already devising elaborate plans for a world where everyone had an EV and the insurance giants and the government got access to all your data. Police would be issuing your speeding tickets while-you-drove, and insurance companies would be granting drivers a discount if they allowed them to sell all their data to the highest bidder. Indeed, the word was that insurance companies wouldn’t even insure petrol cars. Obviously only the rich were going to be able to afford a petrol car or an EV “with privacy”.

But now, the largest party in the EU is drafting a policy to ditch […]

EV’s stuck for days unable to charge in frozen Chicago : “A bunch of dead robots”

By Jo Nova

“Plugged in and not charging”

In the deep freeze this week, people all over Canada and the USA are finding out how complicated it is to own an EV in cold weather.

Not only do the cars lose a hefty 30 to 50% of their range, but the battery itself can’t accept charge if it gets too cold, so EV’s need to precondition their batteries before they can start to charge. (To precondition is EV-jargon for “warming them up”.) However, there is a point, as temperatures fall, where batteries cannot even heat themselves enough so they can start charging. They have to drain the battery to charge the battery. It’s a death-spiral towards a frozen singularity.

How cold is too cold? The ideal temperature for charging an EV is 15 – 35°C (or 60-95 F) so some advise preconditioning the battery when it’s below 15C. But the charging speed declines as the chemical reactions slow down, and it reaches nothing at about 0°C (32F). So if the car is minus five, the battery won’t even accept a charge.

At the supercharging station in Oak Brook Chicago, people have been trying for days to charge […]

Hertz to sell one third of it’s EV’s — customers don’t want them and they cost too much to fix

 

By Jo Nova

With the western world hurtling into new cars that are more costly, inconvenient, slower to refuel, and prone to burning down carparks and cargo ships, it was only a matter of time before the cracks in the socialist car market started to show.

Around the world tonight headlines are sharing the news that Hertz is selling off 20,000 EVs, one third of their fleet, in order to buy some more fossil fuel cars. That can’t be inspiring news for customers thinking of giving up their gas guzzlers. As Oilprice said: Hertz’s Big Move Into EVs Turned Out To Be A Dud. And as Reuters headlined: Rental giant Hertz dumps EVs, including Teslas, for gas cars.

It was the perfect storm in a bad way. Apparently the customers didn’t want to rent them, and when they did and they scratched them, they cost too much to fix. (Repair costs were twice as high). Then the bottom fell out of the second-hand market, and to recover the depreciation losses, Hertz would have to raise the prices on a product customers already didn’t want. There was no way this was going to work.

The official dry Hertz announcement […]

When you sit in a “digital car” you consent to being recorded and personal data sold

By Jo Nova

People say things in a car they might never write in an email. Well, they used to.

Who knew? The Subaru privacy policy allows them to record your conversations and your face and sell that data to the highest bidder. Most likely (who reads these things) all the other car companies do too. When an AI analyzes it, presumably it will identify your voice (and you from the cameras). Anything you say in the public broadcasting world of private cars will belong to them, even if you are a passenger, and were never asked.

So if you want to have a private discussion about your political views, your children, your religion, troubles at work, intellectual property, discoveries, information that might affect stock prices, your thoughts on immigration, corruption, or mention any medical issues you have, or affairs anyone you know has had, don’t do it in an electric car. Imagine the blackmail, political, legal and insider potential with this data in the hands of…

“Subaru“, posted on Foundation Mozilla

Here’s something you might not realize. The moment you sit in the passenger seat of a Subaru that uses connected services, you’ve consented to allow […]

Australian government is coming for your Utes, SUVs and cheap fuel

By Jo Nova

We elect an Australian government but get the EU rules

Just before Christmas the government quietly put out new emissions rules they know Australians won’t like. “Tis the season for dropping press release bombs.

Australia will adopt ‘Euro 6’ fuel standard by late 2025

Jacob Greber, The Australian Financial Review

Tough new petrol standards will be introduced at the end of 2025, potentially increasing the cost of fuel while expanding consumer access to leading-edge, mostly European, ultra-efficient vehicles.

By forcing Australians to buy expensive, unreliable cars prone to exploding, the government will stop families going on holidays, burn down a few homes, and keep friends from visiting each other, unless the nation of petrol-heads keep driving their old cars and Utes, Cuba style. For all this pain, the new rules will “slash 18 million tonnes of greenhouse gas emissions” which is equivalent to taking 280,000 imaginary cars off the road, or cutting 0.15% of annual emissions from China. i.e. nothing.

All Peter Dutton, the opposition leader in Australia needs to do to win the next election is to stand up for drivers in Australia.

Apparently Australians need to import more EU cars […]

Big Car Data: Insurance insider warns they want to force you into an EV, ban insurance for petrol cars, and track you

By Jo Nova

Insurance companies just want to save the world right?

An anonymous insurance insider warns the plan is to force people to buy a digital car, and claims the push is so strong we won’t even be able to get insurance for a combustion engine vehicle. It sounds like a conspiracy theory except that insurers themselves admit Big Data from cars is worth a fortune, and they’ve have been lobbying to get your car data out of the hands of the car manufacturers (purely for your own good), and they’re already “involved in negotiations with the European digitalization and data protection manager”. Righto. Just six weeks ago, a Managing Director of Allianz insurance said he wants to track your car data so he can be “your invisible Guardian Angel.” Creepy, yes?

Wouldn’t you love to have your insurer, the police and the IRS as your back seat drivers?

Imagine a world in which the insurer acts as an invisible guardian angel to drivers, warning them of upcoming weather hazards or accident hotspots to avoid.

— Christoph Lauterwasser Managing Director, Allianz Center for Technology

According to GeoffBuysCars an insider at a large European insurance company has […]

Forced EV Transition customers won’t buy EV’s say 3,882 car dealers to Joe Biden

By Jo Nova

Joe Biden wants half of all cars to be EV’s by 2030 to stop the storms, but customers have other plans

Such is the dour mood in sales yards, it only took three weeks to get nearly 4,000 dealers across the USA to sign on. Their joint letter to Joe Biden informs him electric vehicles are piling up in their sale yards. And even though the prices have been cut and subsidies applied — it’s still not enough. They plead with him to slow down with the EV mandates.

Rich Democrats buy EV’s but the poor and middle class can’t afford them, the charging infrastructure is not there and the grids can’t cope. If the price of traditional cars is forced up artificially to effectively subsidize and “meet” the EV Diktat, presumably most customers just won’t buy new cars at all.

Right now in the EV vision, sales are supposed to be accelerating:

Car Dealers to Biden: EVs Aren’t Selling

The Editorial Board, Wall Street Journal

Dealers have a 103-day supply of EVs compared to 56 days for all cars. It takes them on average 65 days to sell an EV, about […]

EV’s report 80% more problems than petrol, diesel cars

By Jo Nova

Add it to the list. A survey of owners of 330,000 vehicles found that EV’s experience 80% more problems than petrol and gas powered cars.

So EV’s cost more to fuel, take longer to arrive on long distance journeys. They sometimes burn down ships, destroy airport carparks, and kidnap drivers. They are a national security risk, and a burden on electrical grids. Because they are heavier they create more potholes, wear out tyres faster, increase road noise and air pollution (from tyre particles). They also increase wear and tear on bridges and multistory carparks.

EV’s are on the verge of becoming uninsurable partly because near new EV’s may have to be written off after a scratch, and all EV’s need large empty spaces to be stored so they don’t destroy the cars around them.

And in the end, they barely reduce national fuel consumption, and no one even knows if EV’s will reduce CO2 emissions.

On average, electric vehicles are less reliable than other cars and trucks, Consumer Reports finds

By Tom Kriser, CBC News

Electric vehicles have proved far less reliable, on average, than gasoline-powered cars, trucks and SUVs, according to […]

Germany: You will own a car and a heater but you can’t use them

By Jo Nova

Oh the irony — Green heat pumps and EV’s will need to be curtailed on a Green Grid

We’re watching the real time collapse of parts of the “Climate Industry” in on itself. The left eats its own. The EV’s and heat pumps the German government was coercing people to use are so incompatible with unreliable expensive energy, they will be among the first appliances to be restricted in the new clean green economy.

The truth is — Solar and wind power can’t power EV’s. In Germany the network regulator is working on ways to limit electricity to hungry EV’s and heat pumps so they don’t crash the grid.

The federal grid agency will throttle the charging power so EV’s will get just enough charge for a 50 kilometer trip from two hours of charging. Home owners will be offered a discount if they give control of their chargers to the government. Effectively the rich will charge their car or turn on their heater whenever they want. The poor will “save” €110 to €190 they never needed to spend with their old car or their old heater, and go withou electricity at peak times.

EV chargers, […]

There go those glorious EV transition plans — Australians are not buying

Image by Anwarul Quddus Sikder from Pixabay

By Jo Nova

The thrill of EV ownership in Australia has worn off before it even started

In news that will shock no one, except the Minister for Weather himself, Labor’s plan to have nine out ten new car drivers in an electric vehicle by 2030 has crashed into a mountain of apathy. The latest estimates from the Australian department in charge of guessing these things is that EVs will only be 27% of new car sales by then, not 89%. And the modeling assumes EV’s will be exempt from the usual tariffs and taxes, but finds most Australians would rather pay the extra taxes and get themselves a planet-wrecking petrol-head machine anyway.

Of course, in climate maths, 27% is practically the same as 89% because EV’s may not reduce emissions at all, but since the push to force them on us has nothing to do with carbon emissions, the theatrical chasm in their big plans is a major loss.

That and the dilemma of who will pay for the back up batteries to stabilize the windy wobbly national grid if car owners don’t?

By 2030, after years of propaganda and […]

Hertz backpedals on rush into EV rentals: CEO says repair costs can run “twice as high”

By Jo Nova

Hertz was aiming to make 25% of its fleet electric by 2024, but is finding 11% is too much. Given there are whole nations pushing for 100% EV by 2035 there seems to be a message here…

Let’s thank Hertz for doing that experiment for us. It turns out EV’s didn’t work well in the high mileage Uber-type system because the drivers “drove them into the ground” and repair costs were much higher than expected. So Hertz moved some EV’s to the leisure hire department, but then the revenue per day in the leisure sector fell. Presumably people didn’t want to hire them.

It’s not that this is Bad News week for EVs — it’s quarterly reporting week, so companies have to tell investors things they’d rather not.

Great nations don’t force citizens to buy heavier cars with shorter ranges and bigger repair bills in order to stop bad weather one hundred years from now.

Hertz rolls back aggressive electric car plans

Car Expert

Hertz is slowing down the roll out of EVs onto its fleets as the CEO cites higher than expected repair […]

The EV bubble popped: VW orders are down 50%, Ford loses $38,000 on each car, Toyota chief, says “people are waking up”

By Jo Nova

Last week the EV bubble popped

It’s been a crushing week for the EV industry as the bad news that has been brewing for months was laid bare in the quarterly reports. Across the industry, corporate CEO’s are all admitting that demand is unexpectedly slow, orders are down, and suddenly projects are being delayed “indefinitely”.

Volkswagen admitted orders are down a shocking 50% and they are sacking 2,000 jobs in the software division. Ford posted an operating loss of $1.3 billion for the quarter — meaning they are losing $36,000 for every EV they sell. They face a ghastly full year loss of $4.5b, so not surprisingly, they are delaying battery plants, and plans to expand production. All up they are now holding off on $12 billion in investments.

The head of Mercedes-Benz described the market as “a pretty brutal space”. Harald Wilhelm hinted that some manufacturers won’t survive: “I can hardly imagine the current status quo is fully sustainable for everybody,” he said.

Panasonic has slowed EV battery production was reduced by 60% in Japan compared to the same quarter last year. While its US plants were OK, profit forecasts of the whole energy division […]

Teslas being banned in some areas of China because they are a spy threat

By Jo Nova

Sometimes we just need to pay attention to what adversaries are doing.

Why would China be so worried about foreign EV’s near airports and holiday resorts of VIPs?

Winston Sterzel spent 14 years in China and has some of the best insights and connections behind the propaganda wall.

….

I am unavoidably distracted by other things for the next two days. Sorry I will not be able to reply to emails or comments. Thanks to the moderators for keeping the ship running.

h/t John Connor, Furiously curious, Kim, and RexAlan

 

 

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EV’s Luton fire just killed the EV market

By Jo Nova

Geoff Buys Cars is a car nerd commentator who spent hours trying to find evidence that the Luton airport fire was caused by an EV. To recap — 1,200 cars died, the floor collapsed, the airport fielded 16,000 calls from people who needed help, answers, another flight, or their charred car. It was a big deal to a lot of people, and he argues, a turning point in the quest to get everyone driving an electric vehicle.

In the end officials say it was a diesel, and Geoff couldn’t definitively show it was or wasn’t an EV, but he said it doesn’t matter — everyone thought it was an EV anyway, and he argues — it will destroy electric car sales either way.

If everyone else thinks it’s an EV then there is no way people are walking into car dealerships this morning with that in the news and saying “you know what, I really fancy parking one of those lithium powered electric vehicles right outside my house. I think that’s exactly what I need to do to save the planet and look after my wallet and my family.”

Today, he said, […]

Cars exploding at Luton airport London: Huge fire causes partial collapse of structure

By Jo Nova

All flights are currently suspended at Luton Airport, London after a major fire broke out last night at 9pm. No one at the BBC, apparently, can explain why it spread so fast (the mystery!). But everyone is grateful this was not an underground carpark below, say, a 20 story apartment building with babies sleeping upstairs, especially since part of the top floor of the carpark has collapsed.

The fire has, unfortunately demolished some dreams of carbon reduction.

UPDATE: Apparently the word is that it was a diesel car that started the fire. The question is then, if there were no EV’s on that floor, would it have spread just as fast, would the floor have collapsed, and would cars have exploded like popcorn in the microwave? Awaiting the BBC gurus…

UPDATE #2: Allegedly there were no sprinklers (which wouldn’t put out an EV battery fire anyway). Let’s try to imagine what kind of sprinkler system would contain those EV Fires — like drop-down glass-fibre spray that solidifies on contact or like jet sprayed asbestos?

UPDATE #3: As many as 1,500 cars were in the car park, it’s not clear how many […]

EV kidnaps the driver at 30 mph, runs amok

MG ZS EV X | | Photo by Chanokchon

By Jo Nova

And you thought your last software crash was bad

Brian Morrison ended up a prisoner in his own new MG electric car that wouldn’t stop. He could steer, but the brakes didn’t work, and he couldn’t turn it off. At one point he threw the car keys into the police van driving beside him, which had come to help, but even that didn’t stop the motor. This was not meant to be a self-driving car.

Tragedy was averted this time because it was 10:30 at night, the road was empty and the police had time to stop it. But what if this fault occurred in normal traffic and the EV drove through a red light, or a pedestrian?

By Rory Tingle at The Daily Mail:

I was kidnapped by my runaway electric car

Terrified motorist, 53, reveals his new £30,000 MG ZS EV ‘began driving itself’ after suffering ‘catastrophic malfunction’ – forcing him to dial 999 and crash it into a police van to get it to stop

Brian Morrison, 53, claims he was heading home from work at around 10pm on […]

EV’s suddenly become uninsurable (unless you are rich)

Shuets Udono

By Jo Nova

Remember how we predicted insurance costs would rise when people realized that almost brand spanking new EV’s were being written off for scratches, because no one could test their battery and be sure it would not ignite? And then there was the news that after an accident, electric cars need to social distance, taking up as much as 50 times as much parking space, in case they blow other cars up? Well, insurance companies have realized this too. One underwriter has paused offering EV’s insurance entirely, while other companies are ramping up the rates by 60 – 900%. What a shock:

‘The quotes were £5,000 or more’: electric vehicle owners face soaring insurance costs

Zoe Wood, The Guardian

In the Facebook group, members share stories of horror renewal quotes, with increases ranging from 60% (up to £1,100) to a staggering 940% (a jump from £447 to £4,661, according to a screengrab shared by one driver).

“I spent weeks on every comparison site as well as trying individual insurers and specialist brokers, but either they wouldn’t cover the car or the quotes were £5,000 or […]

New EV Battery factory in Kansas needs a coal plant to run

By Jo Nova

For some reason wind and solar power will not be powering a new EV battery factory in Kansas. Instead the sudden extra demand for electricity will be met by keeping an old coal-fired plant running.

Environmentalists are not happy. Wait ’til they realize no one even knows if EV’s will reduce carbon dioxide at all.

EV Battery Factory Will Require So Much Energy It Needs A Coal Plant To Power It

Kevon Killough, Cowboy State Daily

A $4 billion Panasonic electric vehicle battery factory in De Soto, Kansas, will help satisfy the Biden administration’s efforts to get everyone into an EV. It also will help extend the life of a coal-fired power plant.

The Kansas City Star reports that the factory will require between 200 and 250 megawatts of electricity to operate. That’s roughly the amount of power needed for a small city.

Naturally, to make something utterly pointless takes a lot of taxpayer money and Panasonic will receive $6.8 billion from the Inflation Reduction Act, which will, quite possibly, increase emissions and create inflation too.

As Mark Mills said it takes 250 tons of material to make […]