Western car makers learned the hard lesson that, at least in most of Europe, electricity prices are far too high, EV prices are too high, and customers do know how to use their calculators. In Germany, the only thing propping up the EV market are tax subsidies for commercially used EVs, so company cars are very likely to be EV or at least hybrid. For the rest of sales? Only idealists buy EVs, and then only those with deeper pockets, their own home charger, etc.

The current third oil crisis won't change much in this picture, because while fossil fuel prices have gone up, electricity prices are also starting to react and rise. That's because electricity demand rises, some industrial users can either use electricity or gas. And because gas prices are rising, which influence a small but very important part of electricity generation: on-demand gas power plants, that smooth out the sharp variations in renewable generation and demand.

And in the one important area of EV construction that makes a real difference, batteries, they tried and failed horribly. Everything else isn't really that special or EV-specific. So this winding down is just admitting that they already failed when the likes of Northvolt went boom. And the imho realistic assumption that production lines can be changed again if EVs should see more demand in the future. After all, some car brands to produce EVs, hybrids and ICE cars on the same line even now.

Electricity costs more in Europe than the US, but so does gasoline, by about the same ratio. EVs in the US have lower running costs than internal combustion cars.

The EV industry in general is growing quite well in Europe. It's just that China is capturing the biggest share of that growth.

French manufacturers, on the other hand, are experiencing a revival by prioritizing EVs and treating ICE vehicles as a secondary focus. If you look at the numbers across the Volkswagen Group (the entire AG, including Audi, Porsche, and Skoda), a clear trend emerges: the only brands currently in trouble are those that abandoned an EV first approach.

Skoda and Cupra are thriving, and it’s not just because of their affordability. They are steadily increasing their EV sales percentages while heavily promoting them as first class citizens within their portfolios. Porsche, by contrast, is hitting roadblocks because they are trying to retrofit their new EV first models to accommodate ICE powertrains. Meanwhile, Volkswagen Nutzfahrzeuge just posted their best quarter ever, driven specifically by their ICE lineup.

The main problem for German automakers was losing their core identity by chasing a "Modern Luxury" business model prioritizing low sales volume in exchange for high per unit margins. Electricity prices are simply not a factor in their demise.

I'd love to see that math

Oh please, it hit two euros a liter thanks to the orange turd