Fake news
They're "moderating acceleration of EV production".
BusinessInsider.com (Oct. 26, 2023):
GM is "abandoning its targets to build 100,000 EVs in the second half of this year and another 400,000 by the first six months of 2024. GM doesn't know when it will hit those targets."
These recent announcements do not affect GM's entire EV development, but are sobering nonetheless:
Mercedes-Benz CEO Wilhelm:
"I can hardly imagine the current status quo is fully sustainable for everybody."
Honda CEO Mibe:
"After studying this for a year ... we are ending development of an affordable EV." Mibe in part cited challenges with getting adequate driving range.
Car & Driver (Oct. 26, 2023; emphasis added):
After just a year and a half, Honda has decided the collaboration on compact EV crossovers no longer makes business sense. Honda and General Motors will no longer codevelop a series of affordable compact SUVs.
Investor's Business Daily (Nov. 17, 2023; emphasis added):
Warren Buffett is known for holding onto his S&P 500 stocks forever. ... Buffett usually likes to add to positions when they're down, so it's interesting when he sells some losers. General Motors is the most telling example. Berkshire Hathaway unloaded 100% of its 22 million shares ... in the third quarter. That position was valued at $848.3 billion on June 30. Shares of GM are down 16% this year. That makes it the worst performer among all the stocks Berkshire Hathaway sold off completely in the period. GM, struggling to compete in electric vehicles, is expected to post 3.6% lower profit in 2023 and nearly 8% less in 2024.
I guess those massive government subsidies, grants, and tax credits to GM (over $65 billion since 2000) aren't feeding the bulldog.
I recently learned that EVs are most efficient when driving in cities or traffic,
not on the highway. Actually, the absolute maximum range is obtained at a steady 20 mph! Depending on your vehicle, driving at a constant 70 miles per hour will result in a
lower range than the official EPA estimate, which assumes a 45% / 55% mix of city and highway driving.
I knew that EV batteries perform better in moderate temperature than in the cold. But InsideEVs.com found that EVs lost an average of
18.5% of their range in temperatures below freezing, at -2 degrees C (28.4 degrees F).
So your EV's EPA estimate
grossly overestimates your range on a long Interstate cruise in winter. Then there's summer, assuming you prefer to run A/C on a long cross-country trip ...
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