The Market Rejection of Battery Electric Vehicles. The battery Electric Vehicles (BEV) market has reached its peak and some say it is in decline. There is a growing sentiment that there will not be a market transformation into BEVs despite politicians spending trillions of dollars of public money to force it. The companies that only make BEVs may have no future unless they abandon the BEV market, or make them truly user-friendly. Tesla ended 2023 with a reported 88,009 unsold BEVs, and its stock price dropped by over 65%. Over 30 BEV makers in the West and hundreds more in China went out of business leaving tens of thousands of unsold vehicles. Even dealerships and banks are still being affected as tens of thousands of BEVs gather dust on sales lots. EV prices dropped, production lines shut down, and thousands of workers were sent home.
People Want A Viable Choice! Political interference in the Automotive market reached the breaking point when governments recently began making laws to eventually give the world's electric grids a total monopoly over motive power. Both the automotive sector and its loyal clients detest governments forcing BEV on them. (see image 2) Recently the US Congress responded to this growing discontent by passing a bill (H.R. 1435) preventing California and other American states from passing or enforcing regulations that “directly or indirectly limit the sale or use of new motor vehicles with internal combustion engines.”
https://youtu.be/DluuB-avK9I?si=3PuaQTr5D6X197C_
Why BEVs Are Losing Market Share:
- BEV's limited range causes stressful "Range Anxiety"!
- Insurance companies report that BEVs are involved in 50% more accidents; and can be a fire hazard if their batteries are damaged. This is reflected in their higher insurance rates.
- BEVs are more costly to maintain, due to a lack of qualified mechanics.
- BEV's heavy batteries make them handle poorly, resulting in more crashes.
- BEVs can't stop as fast in an emergency due to their weight. 60-0 mph Tesla = 152 ft. BMW 331i = 100 ft. (data from, Tesla Consumer Report, BMW Edmunds)
- BEVs cause the emission of larger amounts of CO2 as well as toxic and cancer-causing emissions than ICE cars.
- BEVs have up to twice the tire wear of ICE cars. Tests by Emissions Analytics, found tires produce about 2,000 times more particle pollution by mass than tailpipes.
- BEV's computer interface causes driver distraction and accidents.
- BEVs have a low resale value. Fortune Magazine's website recently noted, "No one wants to buy used EVs and they’re piling up in weed-infested graveyards."
Kamtech RE Can Fix These Issues. Kamtech's RE Technology is more environmentally friendly than any other EV technology. It can also solve the many issues with current EVs and better fulfill the needs and wants of the automotive market than any other alternative. Its widespread adoption can not only effectively lower the CO2 emissions of society but even more importantly, Kamtech's RE can make more efficient use of the commodity that has become the foundation of modern life and pulled billions of people out of poverty, petroleum.