from Kerry Lutz's Financial Survival Network
Kerry and Wolf Richter discussed various topics related to the evolving landscape of different industries. They analyzed the challenges faced by office buildings in major cities due to remote work and the potential for repurposing suburban office buildings into residential developments. They also explored the impact of de-globalization on intellectual property concerns and the challenges faced by manufacturers operating in China. Additionally, they discussed the resilience of electric vehicle sales and the evolving landscape of the automotive industry. Furthermore, the speakers emphasized the potential benefits for utilities from the increasing adoption of EVs and the role of battery installations in managing electricity demand and supply. They also expressed concerns about the energy consumption of AI data centers and the implications for the electrical grid. Overall, the discussion highlighted the complex and far-reaching implications of technological advancements and societal changes on various sectors of the economy.
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The EV resilience is largely due to government subsidies. EV’s are never going to overtake ICE vehicles. If EV’s were here to save the day, then auto manufactures would not be questioning their viability and switching to Hybrid’s or shutting down they EV business. The former Hertz CEO painfully learned that lesson with high repair costs and what it did to his business.
I work in the automotive service business and repair cost are much, much higher for EV’s vs ICE vehicles.
EV’s also cost more to buy and depreciate at an alarming rate because of the repair costs. People are already struggling to make ends meet and purchasing an EV is out of reach for many. Because of the EV’s vehicle weight due in part to the batter modules, they tend to go thru tires at a much higher rate.