Patrick Boyle On Finance Why the EV Revolution Just Stalled
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Dec 22, 2025 The podcast dives into the halted momentum of the electric vehicle industry, exploring the collision of ambitious promises with harsh economic realities. It reveals why Ford faced a staggering $19.5 billion write-down and how the European Union is rethinking its petrol ban. Listeners learn about the gap between costly EVs and consumer demand, the financial losses automakers incur with each sale, and the looming dominance of Chinese manufacturers in the market. The discussion highlights a shift from optimism to practicality in the EV narrative, reshaped by real-world economics.
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Inevitability Was A Subsidy Story
- The EV boom was driven by subsidies and political decisions, not organic consumer demand.
- When subsidies and regulations loosened, Western EV sales and narratives quickly unraveled.
Geography, Not Technology, Now Drives EV Adoption
- EV adoption is now a patchwork defined by who pays the most rather than uniform consumer choice.
- Global EV growth is concentrated in subsidized China while Western markets have stalled.
Used EVs Depreciated Fast
- CarWow data showed a one-year Audi e-tron lost 27% value while a diesel held value, illustrating rapid EV depreciation.
- Hertz dumped 20,000 EVs citing high repair costs and weak customer demand.