Hyundai shuts down main ICE development center
#16
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There's no question all aspects of the 'energy' and related industries (which includes transportation) are highly regulated and incentivized (and penalized) in various ways by governments. But instead of debating all that, perhaps we can stay on topic that hyundai, a pretty big player, is essentially ending new ICE development.
#17
What does heavily subsidized mean in actual dollars you must have some idea given the above. Tesla has not qualified since the end of 2019, Chevy has not qualified since March of 2020.
#18
I think All these automakers know something that general public doesn’t yet. That the Worldwide Government plans to abolish all new ICE cars.
NYC just passed new law banning all new building development using oil or natural gas for cooking/heating etc. The whole building will just run on electricity.
I have repeated this many times - there is way too much $$$ to be made creating a new EV industry. Politicians, businessmen, investors are all going to cash-in at expense of general public. How do you hide this fact - by claiming its all to save the environment!
In 50yrs, the new generation of activists will be complaining how EVs ruined the earth by mining for precious metals…..
https://www1.nyc.gov/office-of-the-m...-new-buildings
NYC just passed new law banning all new building development using oil or natural gas for cooking/heating etc. The whole building will just run on electricity.
I have repeated this many times - there is way too much $$$ to be made creating a new EV industry. Politicians, businessmen, investors are all going to cash-in at expense of general public. How do you hide this fact - by claiming its all to save the environment!
In 50yrs, the new generation of activists will be complaining how EVs ruined the earth by mining for precious metals…..
https://www1.nyc.gov/office-of-the-m...-new-buildings
New York City is the largest city in the nation and the first large cold-weather city to phase out fossil fuel combustion in new construction – accelerating next-generation electric buildings, improving air quality and public health, and reducing greenhouse gas emissions
Last edited by RNM GS3; 12-25-21 at 10:57 AM.
#19
Some cities already banned ICE cars from being driven into certain parts.
Behind closed doors- I’m sure the auto executives were told ban is coming and to develop EVs asap.
#20
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https://www.resources.org/common-res...cle-standards/
Tl;dr - tax credits typically INCREASE the cost of EVs (and EV makers profits) as EV makers then have decreased price pressure to compete with ICE, except for companies like tesla which have long used up all their tax credits. as i've said before, govt intervention distorts market mechanisms and always has unintended consequences.
#21
And that kinda ties back to why I think Hyundai is stopping ICE development. Their ICE engines are good enough now, since they are producing enough EVs to meet their carbon credit quota. They will probably just use what they have going forward. Easier to just produce another EV than spend the money on R&D to get better gas mileage with ICE. And, again, this is completely different than what happened with fossil fuel subsidizes. They were put into place because our economy was starved for energy, and there was no other option. This is done to push one technology over another viable, proven solution.
#23
Since Tesla sells nothing but EVs, they have leftover credits that they are allowed to sell to companies that won't meet their carbon credit quota. That was $1.6 billion in 2020. And $518 million for the first quarter of this year. A completely artificial market set up by the gov that actually forced one company to subsidize their competitor
#26
#27
#29
I am generally not in favor of subsidies. But signaling out EVs is kinda silly. Big oil gets what, $10B annually for exploration, development and sales of oil. And we pay the tax at the pump!
And their profits are insane right now. CA wannabe premium is $5 plus 10 cents per gallon if you use plastic.
And their profits are insane right now. CA wannabe premium is $5 plus 10 cents per gallon if you use plastic.
#30