By Joann Muller | Axios
If carmakers have any hope of making money on electric vehicles, they’ll need to re-think how they design and sell them, a new McKinsey study suggests.
Why it matters: Automakers will pour $255 billion into EVs by 2023 but are resigned to losing money on them for the foreseeable future — an expected outcome of a market dictated by regulators and lawmakers, rather than consumers. But because they’re key to future self-driving cars, they’ll keep investing in them.
The big picture: Right now, electric vehicles are an expensive black hole for carmakers.
“Arizona regulators right now are drafting the laws and policies that will either help Arizona be a leader in the electric vehicle industry or will set our state to the back of the pack. In order to encourage the proliferation of EV charging stations and make Arizona a leader, regulators should certainly reject calls to regulate this competitive and growing industry.”
