Legacy auto is struggling. It is pulling back on its EV investment. There was a belief that once these companies started to bring out EVs, they would dominate.
In this video I discuss how the opposite is happening. This is in line with history as recessionary periods are opportunities where disrupters take market share. This is happening in autos.
▶️ 3Speak
The technology is still to young. Also I think EV is dead in the water. Hydrogen is the future. Everyone loves combustion engines and Hydrogen can do battery or combustion
Summary:
In this video, the speaker discusses the struggles faced by legacy auto companies in transitioning to electric vehicles (EVs). He emphasizes that Tesla and Chinese automakers are positioned to dominate the EV market, while legacy automakers are facing challenges in producing profitable EVs due to economic headwinds and their lack of expertise in software development. The speaker predicts that the shift towards EVs will continue to grow, impacting legacy automakers' sales and market share. He warns that companies like Ford, General Motors, Toyota, and Honda need to adapt to the changing landscape to avoid falling behind.
Detailed Article:
The video opens with the speaker highlighting the challenges that legacy auto companies are encountering as they struggle to roll out new EVs while losing billions in the process. He emphasizes that the competition in the EV industry is intensifying, with Tesla and Chinese automakers poised to lead the future of automotive manufacturing.
The speaker points out that legacy automakers, such as Ford, are facing significant losses in producing EVs compared to their ICE vehicles. He mentions that while ICE vehicles have been profitable for these companies in the past, the transition to EVs is proving to be economically challenging for them.
Furthermore, the speaker discusses the concept of peak ICE, suggesting that the demand for internal combustion engine vehicles has reached its peak globally. He argues that the growth of hybrid vehicles is slower compared to EVs, indicating a shifting consumer preference towards electric vehicles.
The speaker delves into the importance of software development in the EV industry, noting that companies like Tesla and Chinese automakers have an edge in software capabilities over legacy auto companies. He criticizes VW for delaying its software development plans until 2028 and highlights Ford's recognition of the need to improve in this area.
Moreover, the speaker mentions the reluctance of companies like General Motors, Toyota, and Honda to fully embrace the transition to EVs, suggesting that their resistance could lead to severe consequences in the future. He warns that as EV sales continue to rise globally, legacy automakers must adapt to the changing market dynamics to avoid being left behind.
In conclusion, the speaker draws a parallel between the evolution of the smartphone industry and the current transformation in the automotive sector. He urges legacy auto companies to learn from history and adapt to the growing demand for EVs to remain competitive in the rapidly changing market landscape.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.