So the soft market for EVs is hardly a surprise- the news is about up front costs and charging infrastructure etc but the simple fact is that the fall in EV demand has mirrored the fall in gas prices. I bet a dollar a gallon increase in gas would drive ev sales through the roof…
But as EV adoption rises, demand for gas will fall by the same amount, right? Which would mean that gains in EV popularity essentially guarantees that gas remain cheap, which means that people will want gas cars indefinitely. As much as I am a believer in market efficiency, I fear that we are stuck with gas cars for a very very long time.
In Norway with the highest number of EVs pr capita, gas is still expensive. Oil price is global, so I guess thats why.
You could argue that this will open up for closing down oil production in the future to keep up with lower demands.
You also have to have really cheap gas to compete with home charging