Who makes a profit from EVs in 2023? Everyone but Tesla and BYD making a loss?
Why is it so hard to make money from making EVs at a competitive price?
This is an exploration of the profitability challenges, and the answers to “Do only Tesla & BYD profit from EVs?” and “Why make vehicles at a loss?“.
Auto makers must either 1) find a way to make EVs at profit, 2) close down, or 3) hope there will still be a large enough market for ICEVs for them to survive. Highly funded research indicates that in future just 5 brands will dominate 80% of the market, and the reality is only one of the top ten automotive from 2021 is a likely contender.