I had a very illuminating conversation last night with an industry insider who has a position in a well known car maker. For confidentiality reasons I won't say which one, just that they are at the higher end of the market and it's not Jaguar. He was telling me that sales of their electric cars have fallen well below expectations. Their current EV models are planned for replacement and the new versions are being designed so they can be offered as EVs but fitted with petrol powertrains instead should it be thought necessary in the future. Hedging their bets with an ICE strategy going well beyond 2040.
He also mentioned that their fastest-growing market is Egypt because the hyper-rich Chinese and Russians are moving there.
