Hyundai/Kia is making well above operating cost and will have made back its R&D to start earning a profit on EVs in about two years
BYD is profitable with EVs, after govt support for R&D and setting up factories
GM learned a lot from Bolt and expects to make back R&D and turn profitable in 2-3 years with its next generation Bolt
So yes, there’s a big transition cost, but manufacturing EVs already is profitable for companies who have made the transition and are selling in significant numbers.
It’s only legacy manufacturers who have not made the transition, who are not yet selling EVs in significant numbers, who are not profitable. It’s in our society’s best interest and these legacy manufacturers best interest to help subsidize the transition, prompt them to move faster, grow the market a bit faster- if they were selling EVs in significant numbers, like Hyundai or GM, they’d also find them profitable or about to turn profitable
So yes, there’s a big transition cost, but manufacturing EVs already is profitable for companies who have made the transition and are selling in significant numbers.
It’s only legacy manufacturers who have not made the transition, who are not yet selling EVs in significant numbers, who are not profitable. It’s in our society’s best interest and these legacy manufacturers best interest to help subsidize the transition, prompt them to move faster, grow the market a bit faster- if they were selling EVs in significant numbers, like Hyundai or GM, they’d also find them profitable or about to turn profitable