Forbes notes in an article looking at Europe’s e-car perspectives that the car-making industry will not benefit from that, because “Fiat 500, Toyota Aygo, VW Up!, and Citroen C1 will soon get the hook, because profits are very hard to find, not least because the European Union, in its bid to slash carbon dioxide (CO2) levels to zero by 2050, is making it increasingly expensive for car makers to produce affordable, legal, internal combustion engine (ICE) powered vehicles. The EU is offering colossal subsidies to its citizens to buy electric cars at the same time.”
“Sorry, but even with massive subsidies, Europeans on average wages still can’t afford electric cars. But never fear, Chinese manufacturers are about to launch a raft of affordable, cute and affordable practical little electric city cars priced at around $6,000 after tax. Europe’s car makers are nowhere to be seen in this market, where the cheapest electric cars cost more like $25,000.“
