If you account for the power generation necessary to fuel an all-electric car fleet, and the C02 emissions from that power generation, electric cars are not a “green” technology in the sense that they reduce C02. From Eric Peters at ericpetersautos.com:
While GM’s Mary Barra signals virtue, the grandson of the founder of Toyota speaks an inconvenient truth.
“The current business model of the car industry is going to collapse,” warns Akio Toyoda – if the virtue-signaling (and mandating and subsidizing) of electric cars isn’t dialed back. Because there’s no mass market for electric cars, which are too expensive to be mass-market cars.
It’s the math, man.
This idea that people who can barely manage a six-year-loan on a $25,000 car will somehow manage a loan on a $32,000 electric car (the lowest-priced electric car currently available) is as ridiculous as the idea that everyone will eat steak and lobster twice a week if the government so orders.
If from subsidies, then the people will pay that way – via taxes – and have even less ability to afford to replace their $25,000 non-electric car with a $32,000 electric car.
It can be printed, of course. Or hey! presto!’d into digitized existence. But then the people pay via inflation – the depreciated buying power of the money they have available. This is why the car industry will “collapse” if Electric Car Dementia isn’t treated somehow.