General Motors (NYSE:GM) has been criticized for not taking a stronger and larger push toward the EV market, mainly because it is still building internal combustion engine cars. If that is what people are buying by the tens of millions every year, what else should the company be building?
Most of that criticism comes from folks who do not seem to understand one principal fact of business: profits. While consideration of the environment is important, for a company to survive today and tomorrow it must build what most people are willing to buy. Gentle nudging works much better than forcing an issue in most cases.
(Source: General Motors)
Companies like Tesla (NASDAQ:TSLA) and Nikola Motors (private) are trying to develop a market for single new product lines. Tesla with an all battery electric vehicle (BEV) lineup of three cars and Nikola with a hydrogen-battery mix for semi trucks.
