It is no secret that the legacy automakers are making the transition to electric vehicles only reluctantly, in response to regulatory pressure from governments and to competitive pressure from Tesla. Contrary to what many seem to believe, Big Auto’s reluctance to embrace EVs is not merely the usual corporate fear of the future, nor is it the result of any oil industry-fueled conspiracy (as far as we know). It’s a simple matter of money – there are good reasons to believe that electrification will take a major bite out of industry profits, as BMW and Daimler execs recently acknowledged.
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