In contrast with Big Tobacco of the 1970s, I think the big car companies and big oil have investors who suffer from risk aversion rather than naked selfishness.
Harry On Thu, Feb 28, 2019 at 8:45 PM Jed Rothwell <[email protected]> wrote: > Jones Beene <[email protected]> wrote: > > >> He did not mention explicitly : "investors from the petroleum industry" >> since that is a given ... but the implication is that he gets constant >> negative feedback from some of his investors, at the level of Board of >> Directors, NOT to pursue electric vehicles... Imagine that... >> > > I expect this is what led to the destruction of the GM EV1, and to the > long delay in introducing electric cars. However, when the market for > electric cars began to heat up, and when Tesla began to outsell all other > luxury cars combined, this motivation evaporated. GM, Ford and the others > feared they would face extinction if they did not develop electric cars. > They would not let influential Board Members or politicians prevent them. > > For the same reason, GM, Ford and the others rushed to build hybrid cars > after the Prius become popular. Hybrid cars greatly reduced gasoline > consumption, so if there were Board Members with connections to big oil, I > suppose they would have opposed them. I don't know if there were such > Members but if there were, GM ignored them. > > Again, for the same reason, they are now pouring billions into > self-driving automobiles. There may be industries and groups that oppose > that oppose that technology. I wouldn't know. But no auto executive would > listen to opponents, because after Toyota or GM starts selling self-driving > cars, the others better have one within a few years or they will be doomed. > >
