High end motorcar company Ferrari is now saying that they will not jump into the electric car market and will stick with the traditional, internal combustion engine.
The Italian car company says it has no intention of phasing out its gas-powered cars and will continue to make 12-cylinder power hose engines at least through the year 2030.
Per Breitbart News:
The chief of the Italian manufacturer told the BBC in an interview it would be “arrogant” to dictate to customers what they can buy while at the same time walking away from the company’s heritage.
Ferrari instead wants to honor its history of high-performance cars using traditional methods of propulsion.
It said electric cars and hybrids would make up an increasing proportion of its range by the end of the decade but would not totally take over manufacturing output.
Ferrari also insisted it would continue to develop internal combustion engines to salute what it called “an essential part of the company’s heritage.”
This is the right move.
I will guarantee that in about 10 years, every car company will dump their EV lines and go back to making mostly gas-powered vehicles.
While some few models of EVs are likely here to stay, the fact is electrics are simply not ready for prime time and cannot fulfill the need for cheaper, reliable transportation.
EVs are neither reliable, nor cheap. And they never will be either of those unless there is some major revolution in battery science.
And once all these massive government subsidies run out all across the world, car makers will find that there isn’t a large enough market for going all electric. One they finally see the light, they’ll start scaling back.
So, Ferrari is right not to even bother messing with this loser market.