Definitely worth some thought.
We're already seeing ICE sales decline over the past 5 years. Is this macroeconomic related, EV related, or both? Time will tell as supply chain issues improve, but the impact to legacy auto will be real and causalities are likely.
As demand for ICE vehicles decreases, legacy auto will be faced with 2 choices:
1. Reduce ICE prices. Problem with that is margins for ICE vehicle sales are already razor thin
2. Reduce ICE supply. With this, legacy auto loses their economies of scale
While simultaneously juggling those 2 hurdles, legacy will have to increase spending/ investments on EVs and likely losing even more money in the process.
Going to be very interesting how this play out. Consolidations, mergers, and bankruptcies are on the horizon IMO.