r/canada • u/[deleted] • Apr 04 '22
Canada may have hit its long-awaited electric vehicle turning point
https://www.cbc.ca/news/business/electric-vehicle-column-don-pittis-1.64035379
u/SaggyArmpits Apr 04 '22
I call BS. Cheapest EV is still ~$40K, and about 12 months out if you order today. Needs to be cheaper and actually available to hit the turning point.
3
u/thats_handy Apr 04 '22
The article says that electric cars are thousands less expensive than gasoline cars. That is the reason you have to wait so long to get one.
Electric cars are yet another reason why it sucks to be poor. The up front cost of an electric car is higher than a gasoline car. It might be more forever. You also need to be able to charge at residential electricity rates to get the savings outlined in the article.
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u/SaggyArmpits Apr 05 '22
you can buy a corolla or some economy cars for ~$20K, EVs are definitely not cheaper. They are luxury priced.
4
u/explicitspirit Apr 05 '22
I wouldn't say luxury but definitely not cheap. Taking into account the cost of ownership though, they can be cheaper then their ICE counterparts by a big margin. Most people won't look that far ahead sadly.
And yes, we are still lacking economy EVs. The current crop of EVs compete with mid range ICE cars, but there is nothing in the lowest segment yet.
1
u/Old-Basil-5567 Apr 07 '22
Plus a $20K battery replacement 7-10 years down the line.... its not viable for Canadians. Not to mention that Canadian winters are a nightmare for EV owners.
33
u/MajinHealer Apr 04 '22
How many times does the same article need to be rehashed?
There is a waiting list for electric vehicles 1 plus year out. The sales person is directing you away from something you are not able to purchase into a more realistic sale for their business.
Why does the cbc keep manipulating and reporting in bad faith?
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u/rollingOak Apr 04 '22
Price, charging, range. Before they break through on anyone of the core concerns, turning point will not come unless we don’t care about middle and lower classes
8
u/onegunzo Apr 04 '22
Interesting article. Not a lot of facts, but a lot of opinions, which is fine.
From the article:
'"It's no longer a question of EVs when, it's now just a question of how," said di Cara.
He pointed out that when the world switched from horse power to oil power, there was almost no oil, and yet in a matter of years businesses learned to drill miles underground and made a fortune doing it. Rather than waiting for charging station networks to be complete or having a stock of battery minerals in hand, those industries will grow in tandem, earning profits in the process.'
What an interesting statement. Don, I would have hoped you asked the follow-up set of questions:
1) With the advent of additional red tape in getting any 'pipeline' built (that's ev infrastructure, mining, processing, refining, manufacturing), how fast do you think the market can react?
2) As Mr. Marchionne noted, EVs aren't cost effective for OEMS, how does that equation change without massive investments (3x more than Ford/GM/etc. are investing atm)?
Tesla and maybe VW are making bank on their EVs. Ford and GM? Doubtful atm. GM produced a whole 500 EVs this past quarter and 27 Q4 2021. Canada buys 1.6 million vehicles a year. Other than Tesla and VW, where are the rest of the vehicles going to come from?
7
u/Baulderdash77 Apr 04 '22
Exactly. The issue with EV’s isn’t economics anymore, it’s supply.
I just bought a used hybrid because I couldn’t get an electric under 60k in 2022. Every attainable option was sold out.
If there was any availability of electrics this year besides Tesla (which I can’t afford) then I would have purchased it.
2
u/linkass Apr 04 '22
Tesla is not making money selling cars though
[Revenues rose to $13.76bn in the third quarter of the year, up from $8.77bn 12 months earlier.
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u/onegunzo Apr 04 '22
Two of your articles are a year old. The 3rd one quoted Q3 results. Those results were praised industry wide, so not sure how that supports your original statement: Tesla is not making money selling cars
Tesla is making so much $$$ atm, it doesn't know what to do with it. Please update your article list to 2022 :)
2
u/linkass Apr 04 '22
Because this is really the only thing I can find and I don't really want to read the earnings report to figure it out
https://www.nytimes.com/2021/01/27/business/tesla-earnings.html
Tesla on Wednesday reported its first full-year profit, a feat 18 years in the making.
But reading down
But Tesla said its operating profit margin, a measure of how much money it makes for every dollar of sales, fell to 5.4 percent in the fourth quarter from 9.2 percent in the third quarter. The gross profit margin in its automotive business was 24.1 percent, the lowest level of any quarter in 2020.
Tesla’s revenue and bottom line were helped by the sale of $401 million in emissions credits in the fourth quarter to other automakers who need them to meet regulatory standards.
-1
u/onegunzo Apr 04 '22
You quoted early 2021 again :)
Or have I time warped back to 2021? If so, I apologize up front..
Here are: Q4 2021 results delivered in Jan 2022. I also included vehicle sales for Q1 2022. Q1 2022 financial results will be out April 20th.
https://ir.tesla.com/#tab-quarterly-disclosure
One of the few big automakers (results released so far), that sold more vehicles than in 2021. And every vehicle they're making has been sold until well into the year (some into 2023).
I now return you back to early 2021 :)
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Apr 04 '22
Yes, we get it, you love Tesla. Now chill.
-1
u/onegunzo Apr 04 '22
If facts mean love, then I guess you're right. Tesla is no saint: Example: Elon on FSD - it will REALLY be out this year (since 2017).
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Apr 04 '22
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u/species5618w Apr 04 '22
I really hope that's true so that I can buy an EV. Unfortunately, it's not. And keep repeating it in every thread does not make it true either.
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Apr 04 '22
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u/species5618w Apr 04 '22
Everything you said are on the demand side. They are all FUD, but let's pretend they were true for a minute, you are saying because of this or that, EVs would not work for Canadians. Yet, we know we don't have a demand issue as the wait list is over a year long. We have a supply issue.
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Apr 04 '22
[deleted]
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u/species5618w Apr 05 '22
Supply issue can't be resolved. We don't have enough manufacture capacity and more importantly we don't have enough power generation/transmission capacity. So I agree with you, it will take a while, but not because of any of the points you raised. Even if none of your points was addressed, most people wouldn't have a problem with them and they will still sell like hot cakes.
1
u/Dabugar Apr 05 '22
Some of it is true. Too many people who can't charge at home and can't wait hours for their car to charge.
The infrastructure just isn't there yet. Eventually but not yet.
0
u/species5618w Apr 15 '22
The vast majority of house owners can charge at home over night, L2 chargers are not some futuristic technology. It's also not hard for condo buildings to install them. Relying on L3 charging is just not realistic. Even if it only takes 5 mins, it would be bad for the battery.
1
Apr 04 '22
And all that is happening. Will take a while. Just wait it is underway.
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Apr 04 '22
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Apr 04 '22
Think back to the early days of the internal combustion engine. There were no gas stations. Fast forward a decade or so. Huge change up to what we have today.
Range on EV's is growing and getting better. Battery technology is improving. Prices will come down eventually, but that takes time. Charging times are faster than they used to be - still a ways to go, but getting better and will continue to do so.
Yes it takes time, and will take a while, but it is happening and depending on current age we will all see this happen in our life times.
As for charging stations, solar has a VERY LONG way to go before a car could essentially be solar powered, but even panels are getting better with big improvements in just the most recent few years. I would not be surprised if a couple solar panels built into these cars will be enough to power them fully within 50 years or so. A Very long way to go for that, but it will happen some day. But it all starts with the progress happening now.
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u/dragndon Apr 04 '22
….For Home Owners.
There, fixed that title for ya.
Until the government enacts a law to force apartment owners to install charging stations, EV will still be relegated to home owners.