Volkswagen CLOSES factory due to EV demand CRASH | MGUY Australia
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Excellent news! Reality bites.
Yes, many thousands of workers losing their jobs makes normal people overjoyed. Nothing shameful or small minded in your post at all.
@@Gough-jf9zf Not only that, the plant will be closed because VW lost 20% marketshare in China to domestic EV companies like BYD so even if you're an Anti-EV nut, you've got nothing to cheer about about lol
EV BATTERIES ARE FULL OF FOREVER CHEMICALS ... PFAS NIGHTMARE!
Full of TOXIC HEAVY METALS that cause cancer
Yes, and EV owners may be stuck with an enormous recycling fee when they try to get rid of their EV, either by selling or scrapping.
@@Mark-s7d6lhopefully. If it’s anything like the way plastic recycling is handled then there will a lot of ev batteries thrown in the ocean. very sad
The makers that didn't go all in on EV's are snickering!
all of them seem to have gone ball deep unfortunately. Serves them right, for facilitating this corrupt hoax
I like this comment 😂
@@willywest1493 Toyota didn’t. They only have 1 or 2 pure EVs, many hybrids which sell well, and many ICE which do well. Very smart management.
@@davidshanahan5134 Fair point. Maybe that's why I drive a Corolla Hybrid 🙂
@@willywest1493 Oustanding job! We’ve got a basic new petrol Sportage and are delighted. Dismissed EVs out of hand - don’t suit our needs.
"Something is ONLY worth what somebody is WILLING TO PAY for it"
Or your tax dollars pays for.
@@tonysheerness2427 Not mine, Haven't worked since the covid BS, No tax from me. lol
Yep. Value exists only in the mind of the consumer. It has nothing to do with the cost of the materials and labor required to make the product.
My dad always used to tell me that when I was trying to sell a car
That wanted to please liberal politicians, not customers.
Again!
Go Woke get broke
They listened to brain dead joe
All of them getting kick backs.
you will not have to worry about liberals or conservatives anymore china is cashing in all its currency now for gold they want it all and we are giving it to them on a silver platter
The light side of this is, given that Australia has no car industry to bail out, we at least aren't paying for this part of the bloody mess.
As a citizen of one of those countries that has ALREADY bailed out car companies, I say (expletive deleted) car companies! Good on you though...
But the government is a automotive industry. America's automotive industry depends on crude-oil as an exclusive source of asphalt (bitumen) or tar tarmac. Leadership is so insane that they are worried about the entourage part of it, which they don't actually manufacture. Also, the aggregate and base-course in pavement often contains mining, or smelting waste. The mineral magnetite (sand that you can gather with a refrigerator magnet) in road asphalt aggregate absorbs microwave radiation from the sun, thus reducing the need for road-salt procedures during the winter. EVs literally run on a byproduct of crude, and there is only three-percent asphalt in a barrel of oil. Synthetic bitumen could be an option, but, so is synthetic gasoline, synthetic diesel, and synthetic jet fuel, made with nuclear, wind or solar energy. Who is going to build and maintain the roads? Around here, in the USA, it seems like they are just letting 'nature' take over.
Give the govn't time .... give them time .... it will make one, so they can subsidise it, and us taxpayers can save the planet
Making a product that nobody wants to buy was never a good business strategy ...
Trying to force a product on the market that was less capeable, less convinent, more expensive and had Very few if any real advantages was the real business failure.
There is a massive demand for EV's here in Thailand, 1 year ago I never saw one, now they are everywhere and public charging points are cropping up everywhere...my daughters school has just installed two in the school car park.
This "MGUY" channel is put out by fossil fuel think tank propaganda trolls. Of course the truth is you see more EVs every year and there's 10% greater sales this quarter than the same quarter last year. These podcasts are the political right wing fossil fuel stooge conservative constituency in desperation spreading their EV nay say lies. Most of the comment posts aren't actually real people. It's a propaganda farm. A single troll with dozens of user IDs.
@@martinwalker9234Too much Thai stick, me thinks.
Most of the people who want an EV has already bought one. I cannot fathom paying the outrageous inflated price for ANY electric vehicle. Plus, the range anxiety is a hard pass for me . Unless you are in a big city, EVs don’t make a whole lot of sense. And they are terrible for the environment, despite what the alarmists say. All a big scam….
The citizens of leftist-ruled planned economies were told that Trabants are great cars and more than enough (made by disastrously led loss-making companies), and now we will get the same as we now have the same kind of governance led by the same ideology...which will not relent even when facts are staring at them in the face.
Only now it's worse as that leadership isn't only ruling a few nations, they've instead gained hold of pretty much all of the world!
I can't stomach the price of gas and diesel vehicles not to mention EVs.
I wonder why the us imposed a 100% tarif on chinese evs then xD
If the product is shit and no one wants it then why punish the consumer for buying it?
@@Luka_3D That's not punishing the customer for buying it. The tariffs are because China cheats by subsidizing their industry and using illegal means in their workforce.
I'd lose sleep just thinking about having an EV on charge overnight.
You are not really supposed to have even a small 5000 mah mobile phone battery left on charge unattended let alone a 57KW battery in some Telsa Model 3. lol
This is terrible news for all those pre-teens in Africa, that are digging in mud pits for cobalt and lithium.
Nah. The oil industry is going to buy up the exess
Try telling any EV owner about that. They'll either act surprised like they don't know (because they don't) or they quickly change the subject because it damages the narrative they have in their heads. They will not accept that their car contributed to ch1ld sl@v3 labor
Don't worry, there are PLENTY of other products that require cobalt and lithium. The slave labor isn't going anywhere.
A factory producing cars at £200,000 just shows how polarised we have become, haves and have nots.
@@tonysheerness2427
EV’s are kind of like Socialism. They take money from the rich but instead of redistributing it, they make it disappear.
Ignore the list price - what is the lease cost? 99% of these cars are company leases.
That’s what happens when you kill manufacturing through regulation and taxes.
What cars from the Brussels plant cost £200,000? The cheapest model retails in the USA for $74,000. There's no Audi listed for that price. Of any model. Where did you get £200,000?
@@Gough-jf9zf It's in the video.
I was on the decommissioning team in Emden for the ID3 line. The buzz bus line will close when the orders are completed. Putting over 5k employees out of work. So much for the green jobs.
I'm surprised they produced them in Germany to start with.
Any new Volkswagen I looked at in the past years was produced in Mexico or Brasil.
I think Simon has missed out on VW Zwickau plant's fortunes, or lack of them?
"When you lay down with Dogs, you wake up with fleas"
Loving it. EVs a a scam and a joke
Exactly right!!
I'll second that
@@Acemeistre*Lease, FTFY.
You know what's a real scam? Tarrifs on chinese EVs 🤣
@@Luka_3D mmm lithium mines
I love the Audi EV adverts on TV, total daydream and bullshit.
it's hard to find anyone driving an audi that aint a fukwit as it is, and having an electric one by choice just hammers it home more.
Funny that Elon Musk said buying a Tesla will increace in value. Now we see EVs tank and plummet. Like so much he said, it was all lies
Not sure when he said that, but clearly that was stupid - cars Never appreciate in value. Tesla was a viable business until the past 5 years when other even richer Car Makers got in on the act - the market is no bigger, yet Tesla's slice of it is much smaller than 5 years ago.
EM is not a friend of humanity,
don't listen to him
Let's be more precise in our use of language. It wasn't a "lie". It was a lousy self serving prediction.
Musk over hyped climate change to boost BEV adoption and cream off all of the subsidies.
@@iwaswrongabouteveryhthing You just never know which side of the bed Elon will get up on.
Remember this one? "Everything woke turns to shit".
Did not know Musk was woke.
How can a vehicle be ''woke"?
Bad science!
lol... Woke virtue signaling "I'm saving the whales by just stopping oil for horned the owl climate change... transgenderism" or whatever woke gibberish that is in vogue...
Tell it to Leon Musk, savior of the world. Champion of free speech, unless you point out his errors. 😂
‘Cut the cord’.. Break free.. ditch the EV..
Charger thieves are doing just that, cutting the cord.
@@tonysheerness2427 😂 👏👏👏
I like that well said
The circus must be in town I see the clown is out
Gee didn't even mention who the clown 🤡 was but he identified himself
Perhaps those responsible for signing their country up to the virtue signalling electrification project should personally be held financially liable for compensating the workers over the loss of any jobs as a result. This would clarify the minds of those responsible for making such foolish decisions in future.
They won't. If any compensation occurs, it will be done with other people's money.
Green mafia, name and shame each individual. jk
good idea, maybe they could introduce an EV tax on every one sold, and a further compensation fee when they dump it
The workers who built cars that stop production will be transferred to build the vehicles that replace the discontinued ones.
Strange, how supply and demand works.
$200,000 remote control car.
Must be nice to be able to waste such money on a child's hobby!
I was a REAL Volkswagen enthusiast for over 20 years. I've owned 5 bugs, 2 busses, and a Type III. All carbureted, air cooled, rear engined. I've customized them, hot rodded them, and even raced them. I built several air cooled VW engines. I finally had to give up because my age and medical conditions made it difficult to work on them anymore, and, living in Phoenix, AZ, where the temperatures reach 115 degrees F for half the year, I can no longer drive a vehicle without A/C. I still love real VWs, but I can't stand the newer ones. Even back in the '80s, my sister had a 1988 GTI 16V. It was an absolute nightmare to work on. You could easily mangle your hands just changing the oil.
I used to be a mechanic in the 60's and no longer recognise anything under the hood. Engine shoe horned in and covered in large plastic air filters with so many gadgets to clean exhaust emissions and bolt on pumps for steering, airconditioning and turbo charging, I take my hat off to the people who have to fix them today as there is no space to get your hands in.
The vw Beatles and hippy wagons were arguably the height of vw but hey that was like 50 years ago or more and have sadly gone down the ass hole money extortion route just like Mercedes and most other European brands.
The first thing a mechanic does these days is plug in his laptop! They don’t know how to repair anything anymore😢
@@Ful-OGold The VW beetle became a cult car the originals were useless. No heater, gutless tank on wheels The body was so thick and heavy.
I drive a (borrowed) Gen IV Golf. 2L. Boring but solid and practical. FWIW.
Looks like Toyota and Mazda had the right idea to wait and see.
Mazda, yes. Toyota? Hybrids, absolutely. Hydrogen? Nah.
Everyone keeps saying there was a "sharp drop in demand " for ev's as if everyone was clamoring to buy one, but then just said nah forget it.
It's funny how they can't just admit that they overestimated the demand.
For once, they over estimated the gullability of people. Thats what it really comes down to.
I learn something new about EV's every week and it's always something to turn me off them even more. And that is one Major reason they are finished before they start. The public knows they have been grossly lied about and won't touch them. The over hyping has created an impression in the publics mind that no amount of advertising will ever change for a VERY long time.... if ever.
Every Aussie can access VFACTS, the official record of car sales. If anyone does, they'll learn that EV sales have increased markedly in the last 2-3 years. A few months saw sales falls but overall, EV sales are noticeably greater. Fact.
@@glumpy10 Most people simply can't afford them.
@@Gough-jf9zf This is true. Hybrid sales are up much more, and regular ICE vehicles continue to dominate, although EVs and Hybrids have cut into sales, for sure.
I believe that in the final analysis, pure EVs are a detriment to the environment, and the "Save the Planet!" types are actually doing more harm than good, as per usual.
What happens when all the government incentives dry up? What happens when even Australians figure out the negatives, in spite of all the government propaganda?
@@harrymills2770 We've had hybrids for decades and EVs for many years. I think most prospective buyers know the pros and cons.
IDK precisely when incentives will end, but every year, EVs are getting cheaper and their range is extending.
Another one bites the dust, sound like a good tune
Always good to start the day with positive news.
@@AcemeistreYour salty tears are good news, so I just found it.
@@Acemeistre Please keep 'em tears coming 🍵
@@Acemeistre Yes. It's refreshing to subscribe to a channel that doesn't gaslight people with ivory tower nonsense.
@@Acemeistre Holy shit that's a wall of text I'm not gonna read.
I wouldn't say that's positive news. They closed it down because they lost marketshare in china to their EVs. It's hard to compete when your competitor slashes prices by 50%
I'll stick with my 1970 VW Beetle, thanks. She maybe as old as me, but I look after her and she runs on the whiff of an oily rag and loves to cruise at 80k/hr which is more than adequate for a daily driver around the areas where I live.
Great news.
The Auto makers aren't making a leap of faith they are being forced into EV cars through penalties and taxes.
As we will be too.
If we keep voting for the same politicians wedded to WEF.
Leap of faith to bankruptcy.
Just like getting a gun pointed by cops when you try to off yourself.
No...just don't buy it. ICE cars aren't going anywhere.
Was it government regulations and bribery that got car companies moving ahead like little robots? Didn't they ask themselves "would I want to plan my life around a car battery?"
Following government edicts is necessary for their survival. Government edicts also are very good at eliminating any upstart competition. Make no mistake. They're in government's pocket and government's in their pocket. It's a symbiosis that works very well for a while, and always at the expense of the general public.
About four years ago there were plans to build a ev battery giga factory on the old Cambois power station site in Northumberland, it failed to get backing, there was a big hoo-ha from the local labour mp's claiming that the government was responsible for the failure for not backing the plan, now it looks like the area has had a lucky escape from building a massive polluting white elephant.
Irony alert: EV factory on an old power station site!
The Cambois site has been bought by US private equity giant Blackstone Group for an undisclosed sum and will be transformed into the largest data centre facilities in Western Europe.
@@Acemeistre Well, with Labour in power you'll all be implanted with microchips and have a bar code tattooed on your forehead. Any day now...
What makes me laugh is most Audi owners don't realise that Etron is French for turd.😂
Is this the factory which received at least ~300M in subsidies for retooling for EV production, plus who knows how many other subsidies and tax breaks?
Note also: VW is not paying any taxes for their EV production because it's not producing profits to tax! VW will also deduct all of their EV losses from their other (ICE) profits, meaning they will be massively reducing the taxes they're paying overall.
Then add in the costs to taxpayers which they shoulder for the layoffs of all those employees.
VW's EV stuff alone is costing taxpayers amazing amounts...without even looking into the consumer-facing subsidies and loss of tax revenue!
Yes. People who make bad choices are rewarded by the government and people who make wise choices are punished by the government.
I can hear the Saki glasses clinking at the party in Toyota shareholder meeting...
Was at dealer last year flipping thru auto mags. 90% of pages were EV! World of insanity.
Even as an ev driver i find it hard to believe that 90% were all electric lmao
@@Luka_3D I switched to flipping through pages and counting every page that had anything related to EVs on it. Not an exaggeration. But content wise, yeah, maybe not 90% but page layout wise, they were sure to have EV on every page possible.
Now they can just go back to lying about the efficiency of their ordinary vehicles.
Too true!
THEY NEED TO OFFER A
V10 ENGINE KIT
FOR ETRON
V12 TDI with no DPF
It would be hilarious if someone started a business where they buy old EVs and retrofit them with real engines. Imagine a CyborTurd with a 350 HP V8 engine in it LOL You could actually use it.
I see very few EV cars used during commuter rush hour heading to the two cities near us. Very few EVs apparently used for 70 to 85 mile round trip LOL 🏴
@steveinoz8188 true, I live in Scotland 🏴
@@CawKee 🤣😅😂😆 👏👏👏👏👏👏
Amazingly the mainstream media are still pushing, even today! how wonderful they are 😮😢😂
Not a surprise. They are still pushing poxxines for the cough as well.
I haven't bothered with MSM in 20 years or so. From what I gather, it's still propaganda, lies and BS.
"Mainstream media" is a misnomer. "Legacy" or "corporate" media are better terms, because the so-called "mainstream" media are dying.
BBC Breakfast tv this morning gave a huge plug to a new EV from Ford.
It has been given the name Capri. It looks nothing like a Capri.
They are desperately trying to capture the nostalgia market by rebranding EV 💩 with names from the past.
They did the same by slapping the Mustang name on another waste of space. It’s NOT and never will be a Mustang.
Ditch the TV.
@@johnlesoudeur3653 I saw it at a friend’s house. I won’t voluntarily watch the BBC or any other live MSM broadcast.
It just shows how governments cannot legislate demand for a product. Government has no business interfering in a free market and setting sales quotas. That’s fascism.
Too bad, so sad.
i change the front brake hoses and hit the engine with a 5hp petrol! gerni on my wife's little, white 1970 Volkswagen Beetle last Saturday. Yesterday it past an above board ! roadworthy certificate in corner of Millers Road and Kororoit Creek Road Altona north so I can put it on Club plates, at the Men's Shed Queen Street tomorrow , 54 years old . I have no doubt a 10-year-old Tesla car could not do this
I'm pretty sure somebody understands what you said.
I'm not somebody.
And at the ABC………..comments are turned off.
Legacy media was ALWAYS meant to be one-way. It's been a top-down control system for decades that none of the elites want to lose.
Does not matter about the badge whether it’s an Audi mg or Ferrari,, a battery 🪫 is a battery!all the same scam
@@Acemeistre Yes Smartphones are a scam I guess xDD
Go woke go broke.
Who the hell can afford a £100,000 car anyway?
Closing a factory in Brussels, eh? That will make a statement where it's most needed!
Curious what the brussels aristocrats will say ....
And hybrids are fake EVs, only time you use the electric engine is when you come home drunk at 4am in the morning :/
EV drivers do not touch alcohol, it can be used as a liquid fuel, no, Soy Latte’s only.
Ha, ha. Great line!
Yes we know 4 am is in the morning
@@branshippo7590 Give him a break.. he's drunk😆
I would definitely consider a hybrid - depending on the price penalty. Most of my every day needs could be done on electric, with charging at home. And still have the ability to drive long distances, and tow. But so far, no- ones builds something I would consider useful.
If the cars were good and the customers were satisfied, they would sell. But it's only the trolls on this channel who want them and these trolls obviously aren't that strong of a buyer.
When the (professional) trolls only earn *up to* 50 cents per post, it will be many decades before they can save enough to put down a deposit on any sort of vehicle.
@@maifantasia3650 If you haven't taken your studies seriously and are too stupid to work as a laboratory animal in the cosmetics industry, you have to settle for that salary.
@@maifantasia3650When you are too stupid to work as a laboratory animal in the cosmetics industry, that is the income you have to live on.
@@Acemeistre I have access to a lot of media and, above all, I live in reality and have real friends and acquaintances.My friends and acquaintances and the reality in which we live do not need batteries or a connection in the wall.
@@Acemeistre - why would one of @klimatbluffen's friends turn red?
An old adage springs to mind about EV zealots. "A fool and his (her, their, whatever) money are soon parted!"
Mr Toyota is crying with laughter right now 🤣🤣🤣🤣🤣🤣🤣🤣🤣
Toyoda
They all thought people would buy their overpriced luxury cars...
They thought people were stupid enough to buy something that was no where near the equal of what they already had was the major mistake.
@@glumpy10 That's rarely the reason something is successful or not. Look at all the people who think animal fats are bad and seed oils are great, to this day.
Didn't mguy tout how the price of EVs is crashing in an earlier video?
Well? who would have thought it.
Be proud of the fact you have helped to stop the EV insanity.
THANK YOU!
The mention of the westmoreland plant brought back a great memory of watching loads of cars and bikes drag racing on a Saturday night on the four lane entrance road to the plant! 😊😊😊
This is just the tip of a very large iceberg in meltdown.
As demand and prices plummet and manufacturers go bust, anyone with an
EV's made by them will have a very expensive ornamemt when they require spares
and firmware updates.
I see a future business opportunity converting pure EV's to hybrids.
@@andyharman3022 Good idea, but it could cost more to do the conversion
than buyers are prepared to pay.
When you said the price of that VW, I literally LOLd.
As a Jaguar diesel owner, I do feel that this will cause the brand to go the same way as this due to going “All in” with electrification of all new vehicles. Let’s hope that they see clarity and switch back to ICE cars and hope that others follow. Once manufacturers start to go bust leaving a small amount of manufacturers left, the lack of competition with be devastating for costs of vehicles.
Too late David, we have stripped the equipment out of the Diesel engine plant on the I54, Wolverhampton, our company EMR have made a killing
it is not closed, they did let go 1400 of the 3000 people .greetings from Belgium
the loss of any job is tragic in these times, E.V’s may be a joke, unemployment isn’t. My best wishes to all those people let go, I really feel for them.
@@briankelly1420 But it's not a closure, as the channel owner wants us to believe. The closure may go ahead, but I'd like a little more honesty.
@@Gough-jf9zf It is to 1400 people!
@@Gough-jf9zf that is what he said. Maybe you should try listening
@@TheRastacabbage Perhaps you should read the caption. "Closes'' is capitalised.
I’m an Audi man.
From what I can see, EVs are dragging down giant ,successful vehicle manufacturers.
There should be a stronger push for HEVs being the long term future. Not pure EVs.
Yeap. N thats what the toyota group tried to push starting with the Prius waaay back in 1997.
Fast forward to 2023 global sales, 3 out of 10 toyota products are hybrids. And toyota sold 11.2million cars last year… thats alot of hybrids.
I'm an audi/VW man for better or worse
if you look at the list of cars companies that VW own there will be a massive loss on the EV crash
@steveinoz8188 lmao good luck with that
Good news for a change.
With the SCOTUS Chevron decision, this will be the ammo that auto makers will use to fight against the bureaucrats that will totally end this EV mandate crap!
As a belgian, though I live now outside of Belgium I know the Brussels production plant very well.
I'm very sorry for the 3000+ people who are about to loose their job and are about to see their life wrecked.
Nobody is happy about ppl loosing their jobs. No economic tragedy is good news. It's just that there were sooooo many ppl who said the shift to electric is too haste and it's a bad strategy and now when reality calls it's just normal there's satisfaction for having been proven right. But again, nobody is happy about ppl losing jobs.
@@MariusPetrus Scroll up and down. There are posters on this channel who sound pretty gleeful.
With a burden of $192 billion US, the Volkswagen Group is the most heavily indebted enterprise in the world.
They will never pay, they will ride the inflation. In 10 years that will be half of the value.
Due to being busted faking their emission figures, not due to EVs.
Outside of China that is...
Maybe VW can build golf carts in the plant? 😃
Hi Simon. Keep up with the great videos. At 2:54min on this video, "lower its earnings forecast to 3.5 billion to 5.5 billion euros". Should be "from". A typo from Reuters. Cheers.
Volvo cars division are next inline for closure!
Once Geely China own the other 22 percent lol
Agreed - I'm guessing they will have to make a major decision this year to reverse their decision to go all EV - if not, they will end up a smaller niche manufacturer.
@@AntonyBall-hm4jo My thoughts as well.
@@AntonyBall-hm4jo They already are.
Just picked up a new Audi A3 petrol. Massive demand for them with petrol and diesel powertrains at the moment. Diesels are now getting very difficult to find. Only 2 brand new ones on Autotrader yesterday in the A3 model.
Thank you
You can buy a Tesla Model but Y? for only $50k and the new price falls every twenty minutes or whenever Elon gets drunk.
So Audi e-Tron can't compete.
It's also a garbage car range wise.
I can't wait till the pressure from China starts affecting tesla tbh
If the Model 3 can get under 30k then I'm buying it on the spot
This whole thing is just criminal 🤬‼️
Keep the EVs on the RC racing track 🙂
The fanbois will be saying "they're not really closing it, they're just not making anything in it"
And when these companies can't sell the number of EV's mandated and face fine's what then? I think like many people who see the Con for what it is, and that's big u-turns will have to be made in policy & deadlines
Hahaha. The corporate brass gets slapped in the face of reality.
The market has spoken, people don't want EVs and EV automakers find out the hard way by closing up factories.
I hope Jaguar are taking note of all this because if they don't it will be curtains for them.
They must have been laughing at actors ending up on the streets
VW's ICE vehicles are selling like crazy up 33% in one quarter in US. Yet the VW EV vehicles stopped selling. VW already scaled back EVs in the US like last month.
Volkswagen are looking for an alternative use for its Brussels factory. How about using the facility and their expertise to dismantle EV's for recycling purposes?
The only problem i have with electric cars is having to park my 1.7tdi mokka along side one ... 😮
Canadian Liberal government just gifted $16.3 billion taxdollars to Volkwagen to build a plant here in Canada.
This was to create 1400 jobs.
Lets do the math on this: $16.3B / 1400 = $11,642,857 per job. Is this really a responsible use of taxdollars ?
Funny, they say it's 3000 jobs and will deliver $200 billion to the economy. Each job will bring $66,000 to the economy. I call that money well spent.
@@Gough-jf9zf Please advise one taxpayer funded project that has turned out as intended. Just one. At anytime in history anywhere in the country. Just one. Fair question ? We are waiting...
@@Gough-jf9zf Just looked it up - Volkswagon total global revenue is $300billion. But they are going to shift $200B into the canadian economy from one minor plant ? The bulk of their total global revenue into the local canadian economy ? Seriously, you really believe this ?
Businesses are operated to generate profits for its investors, private of public. If employing people to conduct their business is necessary, all the better! Profitable businesses create a secondary economy called the Service economy to support businesses. As a by product of both, a Consumer economy is created as employees have disposable income to spend and invest. Governments’ role is simply to ensure first and foremost, Law & Order. Thereafter, infrastructure to enable businesses to operate and a monetary system to trade values resulting from work/units manufactured. It’s that simple…no Government should be involved in any form of business, it’s not their remit nor is it their core competency. Hence, we find ourself in this muddled pickle of confused roles in economies! Net Zero with the associated madness and abuse of their delegated power! 😡🤬
The number one rule of business is make something that people want and make it affordable. EVs are neither one of those.
The market has spoken. Cater to the market or disappear.
Or lobby for tarifs on your competitors 😂
VW has just invested $5 billion in Rivian in the USA to manufacture EVs. VW are clearly investing in new EV technology.
Another one knocked out the park
Yeah great idea throw 5 billion into a company who's share price has dropped 22.4% YTD. and it's primary competitor is the Tesla Cybertruck, What could possibly go wrong?
@@YouShouldThink4Yourself EVs aren't just the future, they are the present. VW know this and are investing in that future.
The fact is this video is miles wide of the mark. It's the opposite of what is happening.
Rivian shares increased by 50% on the news of the VW investment.
@stevewest131 You're a quickly dying breed, you know that don't you?
@@stevewest131 Billions have been invested in Rivian already, and they failed. VW is bailing them out temporarily, they will fail again. EV's are a huge pothole in the road you throw money into.
@@andyharman3022 In the UK and Europe EV sales must account for 22% of overall sales this year, rising to 25% in 2025, 33% in 2026, 38% in 2027, 52% in 2028, 66% in 2029, 80% in 2030 and 100% in 2035.
ICE cars are obsolete.
VW know they have to catch up and get ahead of the EV market or they will not survive. Other legacy car makers are too reactive and not proactive in the EV market, unfortunately they face difficulties in the very near future. The fossil fuel industry is in terminal decline.
That must be a reasonable loss to the government, with corporation and income taxes reduced. That on top of the loss of livelihoods of people and services they would have used. EVs excrete value.
If you mean the Brussels VW factory, no, it's not closed yet. It might but it is still operational. It was still open as of yesterday.
Its amazing that a lot of people were happy to comply to mandates a few years ago. However now a lot of people are finally awake and want none of this new mandated BS.
It won’t be the last.
I think the car market is screwed no thanks to interfering Governments, with their stupid failing EV mandates. Plus having the EU forcing speed regulators in new cars, is putting people off. I know you can bypass most of the stupid safety systems, but now its each time you start the damn thing. Most drivers just about know how to change their playlists in car, despite looking at system config changes.
Green Kool Aid for all the fans.
Tanking is an understatement
Also those who buy cheaper Chinese cars will soon discover just how disposable they are..! Don't waste your money folks.
As if the "good brands" are not doing the same.
I live in Brussels, and the factory at Forêt used to build the the homologation special, mk2 Golf Rallye. It actually started out as a Studebaker factory back in 1949, but they've built every VW model imaginable here. Quite the shame that out of all the cars produced by VW, they chose to build the E-trons here lol...
Opportunity to produce a small, light, ICE-powered car here in Oz??!!
EV slipping away faster than cryogenic and rocket fuel
One thing is for sure... EV'S will never be a collector/classic vehicle years into the future. They will be in the rubbish pile like a old flashlight.
I'm originally from Pennsylvania (USA), and he mentions the article about VW closing the Westmoreland Plant there...here's the reason why, from Wikipedia: "Initially the plant was successful, but numerous factors contributed to a sharp decline in sales of the cars manufactured at Westmoreland and the factory's ultimate demise. Increased competition in the North American small car market, easing of the period's fuel crisis, poorly received changes to the character of the cars, VWoA's long product life-cycle, the internal economics of the plant, persistent labor unrest and poor networking between Westmoreland and Volkswagen headquarters in Germany. The factory operated at less than half its design capacity and VWoA suffered operating losses during the last five years of its operation. Sales of Volkswagen's US-built cars plummeted by nearly 60% between 1980 and 1985."
They need to invest in charging stations, at least 10x the amount currently to make me interested in an ev.