The issue is, that rate of growth globally is not enough to sustain the capex spent on building EV manufacturing capacity in 2019-24.
Much of that growth was itself due to China, where EV sales growth is starting to taper down making the financials difficult [0].
Growth alone is not enough - what matters is margins. If the rate of growth cannot sustain COGS, then production is right-sized.
Heck, even back in China a major reason BYD has been so successful is because it was able to subsidize it's initial foray into EV vehicles by becoming the primary smartphone battery vendor for Apple, Samsung, and other vendors in the 2000s.
Traditional automotive majors lacked similarly high margins businesses to help cushion the upfront cost of building out capacity.
This isn't to say EVs are "dead", but the transition will not happen overnight. It took Hybrid cars 10-15 years to go mainstream, and imo EVs today are in the same position where Hybrid cars were in the 2013-16 period.
A lot of shifts are happening in battery chemistry (eg. solid state battery manufacturing capex becoming mainstream) along with component manufacturing (eg. Capex for mass producing EESMs). I remain optimistic, but the histrionics some EV fanatics make is equally as grating/annoying as ICE fanatics.
I just made the jump in November. Gaming pc was the last computer in the house with windows. Now it's an all Linux household, well minus the router on FreeBSD.
I actually used to have(maybe still have?) a LG Xenon
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