alt Hacker News> Tesla also isn't developing new models at the same rate as VW, BMW, Mercedes, Hyundai Kia, etc.
BMW and Mercedes are not in the same class. They can afford to get away by charging a premium.
VW: I'd love to know how much it costs them to make/buy a battery, and their profit margins on EVs. Ditto Hyundai and Kia.
(Edit: See https://carbuzz.com/ev-profit-margins/ for VW).
Look at all the companies scaling back on EVs or exiting them altogether (e.g. Honda). It's not that Honda can't make EVs. It's that they can't compete on profit with Tesla + Chinese EVs. It's likely why Hyundai is dropping the Kona and the Ioniq 6.
Nissan dropped the Ariya, I believe. The Bolt is also out. The general shift is for more luxury EVs (BMW/Mercedes), and not EVs for the average Joe.
See also https://www.bain.com/insights/electric-vehicles-profit-puzzl...
Giving up on EVs is crazy though, it seals their fate and guarantees the death of the company in exchange for a few more years of profit. The EV takeover will not stop, as of roughly this year they’re going to be cheaper than equivalent ice cars, it’s going to accelerate quickly. It’s suicide in slow motion