The Energy Absurdity of the Week: Volvo Ceases Funding For EV Venture Polestar

Welp, the hits just keep on coming for the pushers of the EV fantasy. Volvo, one of the early movers in the EV business, announced yesterday that it will cease all funding for the business vehicle for its early move, Polestar. As the Wall Street Journal reports, Volvo’s announcement comes on the heels of Renault’s cancellation of a planned IPO for a similar electric car unit called Ampere, as well as Ford’s cutting back on funding and production for its vaunted, over-touted and under-performing F-150 Lightning.

What it all amounts to is the latest proof that automakers are awakening to the realities of a far more limited market for these niche products than Jennifer Granholm had promised. Go figure. So hard to believe such a visionary like Granholm might be wrong, but hey, there it is.