Economic and Social Consequences of the Decision to Ban the Sales of Fossil Fuel Vehicles from 2035
In this video, I delve into the economic and social impacts of the swift transition to electric vehicles, as discussed in my new book "The Economic and Social Consequences of the Rapid Change to Electromobility." (Available now on Amazon: https://amzn.to/3UQCf0t)
From potential job loss in traditional auto regions to the challenges of scaling up electric vehicle production and infrastructure, I'll explore the complexities and possible disaster that lies ahead.
If you prefer, you can read the transcript below video.
Economic and Social Consequences - Video Transcript
This video will be about the economic and social consequences of the rapid change to electric vehicles.
I've just finished writing my next book on this topic and it will have this title:
The Economic and Social Consequences of the Rapid Change to Electromobility.
This change is not only about changing the type of vehicle that will be used.
It will have very large economic and social consequences, and many countries and regions will be severely impacted by it and the reason for this is straightforward.
Many people will be unemployed by the ban on fossil fuel cars, and they are living in traditional auto regions in Germany, France, the UK, Sweden and the United States.
And there are no plans in place to secure the large scale expansion of electric vehicle manufacturing and use the share of electric vehicles.
At present is less than 3% in the EU and in the United States and in the UK it is about 5% and the large share of these vehicles are hybrids with small batteries.
No country has experienced a situation where the largest share of all vehicles are electric and we have not started to expand power infrastructure or charging infrastructure to cover the needs of large vehicle fleets.
Furthermore, electric vehicles are more expensive than fossil fuel ones and there is no guarantee that they will be inexpensive enough for most car buyers to be able to afford one from 2035.
In fact, the car company Stellantis that owns Opel, Peugeot, Citroën and Chrysler, for example, has warned that the car market may collapse in the EU in 2035 as electric cars will be the only alternative.
They may not become affordable enough for enough car buyers to be able to buy them.
Governments have not analyzed the consequences of the change.
The expected increase in the use of electric cars may lead to job creation on a large scale, but without a plan, many people will be laid off without the certainty of a rapid increase in EV production and electric vehicle charging systems.
The change will also create large expansion opportunities for utilities, but this sector is in many countries heavily regulated and expansion may take time.
Large investments will be needed in many areas such as charging infrastructure, power generation and power grids. For this to materialize, it may take many years.
It is possible that a situation of high level of unemployment will persist for a long time.
It is also possible that the growth in power in related industries will not be concentrated in the present auto regions.
The only thing that is certain is that many people will lose their jobs.
There is also the risk of a large amount of confusion and disappointment about the unexpected consequences that are likely to arise.
I realize that this information may not be what you were hoping to hear, but I think it's important for you to understand this and express possible concerns to your politicians.
That is why I create these videos so that you can form an opinion and engage in discussions.