EV hype began well before the free money era of QE. It came along with the coal movement (usually called the “environmental” movement for some reason.) Coalists have been pushing EVs since the ’70s.
The EV hype didn’t really take off until Elon masculinized the EV, first with outright Lambo-type sports cars, then with fast hi-tech sedans. Elon’s participation was firmly inside the era of free money and idiot venture capitalists.
Basic fact: Electricity has ALWAYS been the best choice for fixed-route urban vehicles. Streetcars, buses, route trucks, taxis. Vehicles that stay within a range of a hundred miles, and always return to the same building at the end of the shift. Electric has NEVER been the best choice for family cars or long-distance trucks. It’s conceivable that new battery technology will someday remove this limit, but storage batteries have been mass-produced since 1802, and the miracle still hasn’t happened. Two hundred years of development should be enough time to solve a basic problem.
Now Tesla stock is down dramatically, mainly for intrinsic reasons, and stock analysts are turning against EVs.
Elon misled the rest of the industry. The big automakers have been trying to match Elon’s misuse of EVs, instead of exploiting the PERMANENT CORRECT NICHE of EVs.