FMG fortescue ltd

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FMG and billions spent on the green bubble - who is WesTig, page-35

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01/11/24

06:46

Post #: 76410476
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Originally posted by rocket973: ↑

All the idiots who think that the climate is changing and that you can stop it by driving an EV are kidding themselves. The climate has always changed, there is no way of stopping the climate from changing.
The EU is starting to learn the green dream lesson the hard way with tens of thousands of jobs being lost to China.
Volkswagen closing three factories in Germany
Volkswagen are closing 3 factories due to not being competitive with China and slowing sales as the future is not so bright for EVs in Europe.

VW isn't the only car maker in Europe having problems.

"Reduced shipments and lower pricing power slashed Stellantis
STLA-N -0.82% decrease revenue by 27 per cent in the third quarter, the automaker said on Thursday as it seeks to fix bloated inventories and poor commercial performance that led to a major profit warning last month.
Stellantis’ specific problems are combining with broader struggles for Western automakers, including soft global demand, especially for electric vehicles (EVs), technological transition challenges, and increased competition from Chinese peers."

EV sales are slowing due to less subsidies and many early EV adopters are heading back to ICE vehicles. Anybody with half a brain knew this would happen.

"THE E.V. BUBBLE IS DEFLATING: Volkswagen Hits the Net-Zero Wall:
A bigger share of the blame lies with politicians, however, especially for their climate policies. Germany’s auto industry is trapped in a vise between higher energy prices that drive up the cost of production, and electric-vehicle mandates that drive down sales. VW is cracking under the pressure.”

Expand

Toyota, Mazda, and Subaru Collaborating on Next-Gen Engines

https://www.caranddriver.com/news/a60926217/toyota-subaru-mazda-engine-development/

FMG Price at posting: $19.17 Sentiment: Hold Disclosure: Held
2 Upvote

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(20min delay)
Last $21.48		Change 0.020(0.09%)		Mkt cap ! $65.98B

Open	High	Low	Volume
$21.52	$21.55	$21.14	7.670M

Buyers (Bids)

Vol.	Price($)
4211	$21.45

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Price($)	Vol.
$21.51	5379

Last trade - 16.25pm 23/01/2026 (20 minute delay)

FMG (ASX) Chart

FMG and billions spent on the green bubble - who is WesTig, page-35

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