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Automakers are hedging their bets on electric vehicles and stepping up their investment in hybrid cars as consumers’ growing disinterest in fully electric vehicles has forced the industry to shift gear.

A combination of high EV depreciation and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that many automakers had ignored.

Volvo scrapped its target of going all electric by 2030 last week, saying it now expected to still be offering some hybrid models in its lineup at that time.

Links Mentioned
Audi e-tron lease video https://www.youtube.com/watch?v=sU8HBNM6LTo&t=33s
EV Depreciation video https://www.youtube.com/watch?v=eGS34ENu4S4

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It seems like every day the tech industry comes out with a "brilliant new idea” that turns out to be merely a reinvention of a mundane product that already existed. Tech bros keep reinventing the bus, but they have also taken to reinventing the tea pot, the toothbrush, the lunchbreak and the public park. In today's video we look at the tech products that either already existed or should never have existed.

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The British government is closing in on a bailout of the Chinese owned British Steel in which taxpayers would inject £600 million pounds into the group.

British Steel is one of only two manufacturers of “virgin steel” in the UK alongside Tata Steel at Port Talbot in Wales which some industry experts claim is strategically important. Tata is in more advanced talks of its own with the government over a similar bailout.

The British government wants the steel mills to switch from using blast furnaces to more environmentally friendly electric arc furnaces at a cost of £1.25 billion to help achieve Britain's net zero goals.

Unions warn that even if the deal is approved, 2,300 jobs would be lost, because EAF is far less labor-intensive than traditional production methods.

Patrick's Books
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Support The Channel
Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://buymeacoffee.com/patrickboyle

Contact
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle
Patrick Boyle on YouTube

Useful Links
Ed Conway Blog:
https://edconway.substack.com/p/does-it-really-matter-if-we-cant
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