NO WAY OUT! Volkswagen CEO WARNED TO SHUT DOWN EVs DESTROYING The Entire EV INDUSTRY!

Electric vehicles (EVs) are posing a significant threat to Volkswagen, as the CEO recently made a surprising announcement indicating a major reversal against EVs, leaving everyone bewildered; The CEO of VW is vocally expressing concerns, stating that VW is no longer competitive, bleeding money, and facing a crisis; Despite a 50% drop in demand, VW confirmed they wouldn't reduce EV prices, leading to the termination of over a thousand workers, a halt in EV production, and the looming threat from a Chinese competitor that could potentially cause Volkswagen to crumble; The real danger lies in electric cars, which, contrary to expectations, turned out to be a massive disappointment, adversely impacting both VW and the middle class; To understand what went wrong with VW and why EVs are viewed negatively, it's crucial to explore the situation in detail; Volkswagen, a renowned German automaker and the world's largest car manufacturer alongside Toyota, is grappling with challenges that threaten its standing; VW, with a legacy of producing quality cars, is now struggling to adapt to the fast-evolving landscape of electric vehicles; The company faces issues ranging from outdated interior designs to exorbitantly priced cars, making it challenging to keep up with the changing dynamics of electrification; Forced into making EVs, VW's CEO, Thomas Schaefer, issued a stark warning during an investor meeting, revealing the substantial debt burden and a lack of competitiveness in the EV sector; He emphasized the urgency of the situation by stating, "the roof is on fire," signifying a critical wake-up call for the company; In response to financial challenges, VW is resorting to unconventional measures, such as charging a fee for emergency GPS coordinates; This move, coupled with intensified competition from companies like Tesla and BYD offering affordable EVs, has created a daunting scenario for VW; External factors like the COVID-19 pandemic and the Russia-Ukraine conflict have further disrupted VW's supply chain, resulting in significant bottlenecks that the automaker has yet to fully overcome; Facing an uncertain future, VW announced plans to cut costs by $1 billion, with senior managers signaling a freeze on spending due to escalating costs; VW's largest market, China, has experienced a decline in sales, compelling the company to slash prices on their most profitable models to stay competitive against Chinese brands, both in the electric and traditional vehicle sectors;

NO WAY OUT! Volkswagen CEO WARNED TO SHUT DOWN EVs DESTROYING The Entire EV INDUSTRY!

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[donbahn]

High housing costs and interest rates mean one needs an income of over $100K after taxes to be able to make payments on an EV plus insurance, a house, and put food on the table.

[sferg]

The push for EV's is ridiculous. Governments making mandates for the required sales of EV's is just as ridiculous. The infrastructure will NEVER be able to cope with the proposed demands, and the batteries are a HUGE risk to the environment and safety with fire risk being immense.

[rudyhonings]

...you mean the high competitiveness of other builders....and the lacking ability to compete by VW

[blowme]

they're a threat to all manufacturers being forced to make them when the public do not want them, and they are woefully bad value for money, and generally just poor.

[ardenbowman]

LOOK HOW MUCH MONEY THEY COULD HAVE KEPT IN THEIR POCKET IF THEY WOULD HAVE NEVER STARTED TO MAKE THESE JUNK EV'S

[daviddoink]

EVs are good for second cars, most of the world can't afford a second cars.

[saintkamus]

"EVs are not selling" meanwhile, Tesla and BYD are proving clowns like these wrong.

[richardbarrett]

EV's are crap, not ready for PRIME TIME, or any other time.