I’ve been writing about electric vehicles since 2011, not because I have any objection to them or those that buy them. I don’t want to pay for others’ greenie virtue signaling. [some emphasis, links added]
Fortunately, with the end of the Biden Administration, the EV death spiral has nearly reached its inevitable, final crash. EVs were never ready for prime time. They were never sufficiently flexible to replace conventionally powered vehicles, particularly for single-car families.
They’ve always been a niche product, purchased mostly by the top 7% of households in income, particularly because they were far more expensive than conventional vehicles in the same classes.
Those folks had all the conventional vehicles they wanted and could afford expensive, rolling virtue signals.
Cajoled and threatened by the Bidenites, American and foreign manufacturers built loads of EVs and parroted the “EVs are the future” mantra of the Climate Change sect.
And they lost truckloads of money on every EV they built, a fact known since the short-lived Chevy Volt, which lost tens of thousands on every unit.
Except for Tesla, no American manufacturer made a dime of profit on EVs. Even in February 2026, carmakers were writing off at least $55 billion on failed EVs, and the real number is doubtless higher.
Since federal tax credits are no more and EV demand has collapsed, some carmakers like Ford are still trying to make new, less expensive EVs.
This, despite admitting they expect to lose billions on EVs well into the future. My wife and I drive Fords, but were I a Ford stockholder, I’d be screaming: “Sell! Sell! at my broker.
Now, we’re getting an unsurprising revelation:
“For years, the Chinese auto industry has employed a hostile price war to kneecap global competitors. Armed with massive state subsidies, cheap raw materials, and an aggressive “scale-first” business model, Chinese automakers flooded the market with electric vehicles priced so low that legacy manufacturers stood no chance to compete.
“How did they do it? Simple, they couldn’t. They did it anyway. Reports from CarNewsChina show that Chinese automakers have been selling vehicles at a loss until a recent law passed by the Chinese government banned below-cost sales of new vehicles.“
Their EV battery ventures haven’t been so hot — except when they spontaneously combust — either:
CHINA LINKED BATTERY SUPPLIER SCRAPS MICHIGAN PLANT
Gotion cancels the $2.4B EV battery-materials facility, per state officials.
State to claw back incentives tied to site acquisition and grants.
Decision follows sustained political scrutiny over ownership and ties.… pic.twitter.com/zzcLhwszYN
— Lumida Wealth Management (@LumidaWealth) October 24, 2025
This is a lesson in economics.
A corrupt, socialist-trending, anti-American government was able to force manufacturers to make EVs at a bankrupting loss for years, but market forces eventually forced them to recognize reality.
True, it was the reimposition of Republican—constitutional, not the Party—government under Donald Trump that hastened the process, but manufacturers were admitting to losing billions making vehicles no one wanted to buy for years before his second election.
It took the Chinese Communist Party, which controls every aspect of life, including all media, much longer to admit the EV economic reality American manufacturers had long been shamed into admitting.
Top: Electric vehicles sit unsold in a Chinese parking lot. Screencap.
Read the rest at American Thinker
