Why Can’t Anyone But Tesla Make a Buck on EVs? Thank 20 Years of Public Policy.

Research output: Contribution to specialist publicationArticle

Abstract

The electric-vehicle business presents a paradox. Virtually all auto makers now manufacture EVs. And yet the business seems like a slog for many. Auto makers including Ford Motor, Volkswagen, and General Motors have struggled to make money from the all-battery electric vehicle, or BEV. Toyota, the most successful established car company, initially opted primarily for the hybrid EV, which combines an internal combustion engine with battery technology. Even Tesla, the largest BEV maker, posted its first full-year of profitability only in 2021.

If it is so hard for auto makers to make a buck out of the BEV, why get involved at all? Why did Toyota prefer hybrids to BEVs? And why is Tesla such an outlier?
Original languageEnglish
Specialist publicationBarrons
Publication statusPublished - 21 Nov 2023

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