Although the business models seem competitive, it
isn’t with large and obvious margins. Rather, we
consider them being fragile and highly dependent
on external factors that neither their operators nor
their customers can influence. These factors are:
the relative all-electric car price; the energy cost
gap, i.e. the difference in energy cost per distance
driven between all-electric and ICE cars; the
battery warranty conditions; and finally the technology improvement speed for all-electric
cars