EV Reality Setting in
- dhobden47
- Oct 25, 2023
- 1 min read
Our Chart of the Day is intended to be a standalone technical chart. We use them to highlight open positions, stocks on our watch list, or indicators that we believe are important, or just interesting at the time. It is not a directional market call. Feel free to share them with others who may be interested.
Today's chart includes a comment from Eric Nuttal, Portfolio Manager of the Ninepoint Partners Energy Fund
"General Motors is abandoning a self-imposed target to build 400,000 electric vehicles by mid-2024, the latest sign that automakers are concerned about the viability of the market for battery-powered cars." - WSJ
"The maniacal narrative of EV-induced demand destruction has always been overblown, with gasoline only accounting for ~27% of total oil demand, the multi-decade long timeline to displace >1.4BN internal combustion engines, and the shortage/lack of strategic access of/to necessary metals. Now, with a weakened economy and most people still preferring an ICE car, reality is setting in." - Eric Nuttall
Comments