
What is needed to profitably make vehicles, and why only Tesla and BYD are there yet with EVs in 2023?
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.