Don’t be gloomy about Tesla and its EV rivals

COULD DONALD TRUMPEVEVevEVEVEV be right about electric vehicles? In March America’s former president, and its -basher-in-chief, complained that they “cost too much” and “don’t go far”. Many car buyers seem to agree. In America deliveries of s have not risen in the past three quarters. In greener-than-thou Europe they fell last month, by 11% year on year. On April 23rd Tesla, a byword for the electric revolution, , with falling sales and revenues. It has shed $330bn in stockmarket value since January 1st. Five , collectively worth close to $400bn in 2021, are valued at a mere $58bn today.Having raced to boost production, established carmakers are slamming on the brakes. Ford has delayed $12bn in planned investments. Mercedes-Benz now says it will reach its goal of selling as many s as petrol cars by 2030, five years later than originally promised. You may conclude that the is in peril.