COVID-19 also blows up China’s ability to game the market. They threw batteries onto it for years far below manufacturing cost. This was designed to kill off competition and it worked. Most batteries today come from China. And the EV industry, as well as others that depend on batteries, have gotten used to the idea of cheap batteries. When in fact, Cina is still in gaming mode. Work for its masses, market dominance for later. Kiss all that goodbye now. The world has real problems to deal with now. No time for EV show-offs.
Coronavirus shutdown across key EV markets such as China, US and Europe will lead to major sales slowdown, Wood Mackenzie forecasts