Japan Carmakers Forge Ahead With EV Investments Despite Slowdown

As reported by Bloomberg Business News, the top Japanese auto manufacturers are keeping their foot on the accelerator when it comes to investing in electric vehicles.  Many in the industry were anticipating a decline in investment and production due to the short term slump in EV sales, but the North Star for this industry has not moved.  Whether or not consumers believe in climate change, the facts remain:

1. It costs (in British Columbia, Canada) about $30 per month to power an EV. The same number of kilometers in an Internal Combustion Engined (ICE) powered car will cost about $550 in gasoline (regular - premium is more).

2. We are running out of fossil fuels.  Top climate deniers will not admit this, but we have done work for the United States DOE and have seen the raw data. 

EV sales growth is slowing (but still growing, not shrinking) and executives have said nonetheless, it shall continue to grow. While there are competing questions about other propulsion systems (like Hydrogen), Japan’s auto companies knew car buyers weren’t ready just yet to go electric as quickly as some hoped.

“The customer decides the speed of electrification,” Stephen Ma, Nissan Motor Co.’s chief financial officer, said this month. “Electrification is not linear growth, a straight line. It will go up and down. But long term, it will grow.”

Read the rest of the story on Bloomberg.  

If you are on the hunt for your first EV, the Everything Electric show (formerly "Fully Charged LIVE") in Vancouver, BC is the central place where you will see all the top EV manufacturers not only displaying their vehicles but allowing test drives.  Come to see us this fall - https://ca.everythingelectric.show/.  Aside from EVs, you can test electric motorcycles, scooters and herds of micro mobility offerings (special test track available).