EVs – wobbling through infancy

ONTO going into administration is undoubtedly a blow for car subscriptions and electric cars. But neither is terminal. Onto was a good business hit by Tesla price reductions and RV instability. Electric cars are growing but remain at around 16% of the market as consumers remain nervous about the technology. I’m sure we’ll see Onto’s founders back in action; and the direction of travel is electric.

The announcement that BMW was investing in MINI at Oxford was brilliant news and adds to the two gigafactories undergoing build in the UK. Octopus EV has just put 10,000 EVs on the road. There will be bumps in the road and casualties along the way. But these are no more than the birth pangs of a fast-moving technology as it grows.

Ralph Morton, editor