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China also reduced or eliminated EV subsidies, though I believe they still have nearly insurmountable hurdles to purchasing ICE vehicles in many places (all places?). I expect a strong rebound.
Worldwide (and US) EV sales were down 10% last year compared to 2018, so that itself suggests a fundamental problem with EVs. We're not there yet, not by a longshot. They need to find a minimum of $7,500 of cost savings in their manufacturing, enough to offset federal subsidies they will be loosing. The, I suspect they need another $2,500 cost savings to really get consumers motivated to purchase them in quantities comparable to ICE. That's $10k in either cost savings, improvements in technology, or some combination of $10k in value to the consumer.
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