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Wall St Can't Find a Single Reason the EV Business Will Improve Next Year. Rivian, Tesla, and Lucid Are on Watch (RIVN, TSLA, LCID)

Austin Smith

Published: December 2, 2024 9:09 am

Key Points:

• Stellantis N.V. (NYSE: STLA) has postponed the EV version of its Ram truck until at least next summer.
• In the U.S., gasoline-powered vehicles are more appealing today because of range anxiety, limited EV credits, and booming oil supply.
• Stellantis is struggling, and rumors swirl that its U.S.-based business will be either sold or restructured.
• Forget EV companies when you can make millions with “the next Nvidia” stocks instead. Click here to learn more.

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Transcript:

[00:00:00] Doug: Stellantis, big car company, nobody’s ever heard of in the United States, but they just so happened to own the Chrysler brand, the Jeep brand, the Ram brand, the Dodge brand, the Ram pickup. Is either the second or third top-selling vehicle in the United States every year after the F-150 model, right?

[00:00:22] Doug: Well, it, that and the Silverado sort of trade place, but it’s certainly a big cash cow for Stellantis the way the F-150 is for Ford, they were going to come out with an EV version, of the Ram to compete with the Ford F-150 lightning. But oops, yes. Not coming out. The

[00:00:44] Lee: Breaks on that. The CEO said that they won’t even be talking about this till the summer of next year.

[00:00:50] Doug: Well,

[00:00:51] Lee: or people do action.

[00:00:54] Doug: Every time we talk, every time everybody talks about the EV business, you’re just shoveling the dirt over the EV grave in the United States. I keep. Trying to come up with reasons that the EV business is going to get better in America. And I can’t find one.

[00:01:10] Lee: No. And it’s funny, despite the fact that, that, the new administration is very, very pro energy.

[00:01:19] Lee: The reality is, is that, we’re cranking out more oil than any other country on the face of the earth. And that could even get bigger, which is going to probably tap down prices. So it’s going to make, gas powered engines even more attractive.

[00:01:33] Doug: Well, that, and I believe that the 7, 500 tax credit on EVs, which does not apply to all EVs, it depends on where they’re manufactured, where their parts come from, but that’s going to slow EV adoption, 7, 500 credit on a car that 50, 000 car is a lot of money.

[00:01:51] Lee: Yeah, it is a lot. And, as we’ve discussed ad nauseam, though, the Stellantis is a mess. And, I wouldn’t be surprised for a moment if, if on the side, they’re not shopping Chrysler because they have all the European cars that do much better. And they may just be thinking, and how do we get out of this mess?

[00:02:12] Lee: And, as we’ve discussed in the past, I mean, look at, look at all the people that have owned Chrysler. I mean, maybe what Chrysler ought to think about doing is running themselves. at the top from Detroit and and try that angle because nothing else seems to work.

[00:02:28] Doug: Well, they only have two vehicles left in their minivans.

[00:02:30] Lee: Yep.

[00:02:31] Doug: So I don’t know that there’s a lot to run.

[00:02:33] Lee: Well, I mean, the Chrysler Dodge Consortium, that maybe Stellantis just sells that all to somebody else, Detroit based.