[Dr Smith]

We have all seen slow downs come and go, one big issue this time is almost all ICE manufacturers were into massive capital outlays ramping up their EV developments, as various international governments instigated end of ICE sales dates (which seems is being relaxed now) or higher emissions regs forcing more EV/hybrid R&D.

These same companies are also mostly still working on their ICE ranges, then you have the economic slow down mixed with cost increases on everything, early EV buyers jumped in but the mass market buyers don't want to pay 25+% more for EV's over ICE and our EV infrastructure still needs a big roll out to even begin to make it mass market viable. And the Chinese brands with better priced EV's are starting to march in....