The EV bandwagon.
Okay, so Singapore is not immune to that either. The policies are in place to phase out ICE cars, but thus far SGGOV has been slow to put up fastchargers and of course upgrade the grid to an electrified future. But then if Germany, Scandi countries and California were seen to be progressive by setting up green targets that they can't hit. Minister Grace Fu (then) jumped all in too. I mean if white people can't get it right, who can? (Hint: Chinese people? From China?)
Anyway, if you want to save the planet. EVs are not the answer. EVs are polluting to make, and polluting to charge if you lack green electrons or have clouds. So this is where the carmakers except Toyota comes in.
They caught a bad case of EV FOMO and lost their collective minds. GM, Ford, Benz, BMW, VW - went all in. This WRONG decision is paradoxically the SAFE choice then. Today, they have all retreated and sheepishly pretended that it is all good, just not working out to plan - but the plan is right. (Credit to Toyota, it takes balls to take a stand when the herd decides to collectively lemming dive over a cliff).
Investors need to ask these German CEOs - WHAT THE F***.
"“The EV adoption rate globally is under pressure, and a lot of other auto manufacturers are pulling back on EVs and pursuing plug-in hybrids instead,” Musk said last month when discussing Tesla’s first-quarter earnings. “We believe this is not the right strategy, and electric vehicles will ultimately dominate the market.” Musk would say that.
Look, EVs are going to be a big part of the future. But totally the future???
But as McArthur famously declared himself prescient - and heroic. Notice Musk never put a deadline. (And if he did, we won't believe him cos' he missed too many)
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