And you shall know the truth, and the truth shall make you free.
Automotive News (12/02/21) reports: "Stellantis CEO Carlos Tavares said external pressure on automakers to accelerate the shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle to manage the higher costs of building EVs. Governments and investors want car manufacturers to speed up the transition to EVs, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50 percent additional costs against a conventional vehicle," he said. "There is no way we can transfer 50 percent of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost."
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It's been a particularly bad week for the fourth branch. Tom and Mike break it down and much more on episode #60 of The Unregulated Podcast now streaming on our website or wherever you listen to podcasts.
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"If extremists continue to advance a radical energy agenda that erodes the United States’ position as a global leader in the production of cleaner-burning natural gas, we will concede our economic future – and global progress on climate change – to China."
– John Yudichak,
Real Clear Energy
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