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EV Market Is Not Looking Good
[Hot Air] The first obstacle for any product is building a customer base. Getting their product into the hands of enough satisfied people who help drive demand for more of your widget, whatever it may be. If your widget has a practical application to everyday life, and does some aspect of it in, say, more comfort, or faster, or more efficiently, then you have a leg up on the competition as well, and you can milk that puppy all the way to like bank.Past examples would be restaurant chain Chipotle’s bouts with food poisoning scares. What did sammich, soup, and muffin competitor Panera do? Business is a brutal sport when you already have a product a majority of your customers want and you are only trying to lure them to choosing yours. Where business turns into a death match is when you’ve bought into manufacturing a product which already had limited appeal, but, even as your competition and costs increase, it’s losing what little appeal it had to begin with. This is the conundrum now facing the electric vehicle industry. As the buying public becomes more familiar with EVs — their manufacturing process, pluses and drawbacks — electrics seem to be losing even their shiny luster of new and cool. As it stands now, EVs are at risk of becoming a niche market instead of dominating the roads as envisioned. People aren’t buying the hype or the vehicles, as EV truck makers are discovering. Posted by: Besoeker 2023-10-28 |
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