From Recurrent.

"We’d need a World War II strategy to pull this off."

Cliff Banks, founder of AUTOVATE and The Banks Report, has spent a decade bringing automotive investors, dealers, and tech firms together to understand the role of capital in retail transformation. Unlike many EV optimists, Cliff brings a decidedly measured view—one shaped by capital flows, manufacturing realities, and political headwinds. His forecast for 2030 EV adoption? 10-15%. Not 50%.

What we cover:

The manufacturing reality check: Where will the plants come from to hit 50% EV adoption? Ford and GM are getting criticized, but could they have done it differently?

China’s unfair advantage: Why their EV dominance is a national strategy (like World War II mobilization), not a legacy automaker innovation story

Detroit vs. Phoenix whiplash: Living between two markets shows wildly different adoption curves and consumer mindsets

Political polarization hurt EVs: The conversation became politicized from day one, damaging innovation and development

Tesla’s market share rebound: Despite Musk’s White House ties, Cliff predicts Tesla gains share in 2026 as political affiliation recedes

Autonomous + EV = the real demand driver: Rivian’s CEO predicts autonomous features will be expected by 2030. If true, EVs will surge because autonomy requires electric platforms

Used EV growth is guaranteed: 5x growth over the last 5 years, another 5x coming regardless of Trump administration policies

This is a capital markets lens on the EV transition—grounded, skeptical, and deeply informed by what investors are actually doing (versus what regulators or advocates want them to do).

About Cliff: Founder of AUTOVATE, a premier conference for automotive investors and dealer executives, and creator of The Banks Report. Based between Detroit and Phoenix, Cliff has been tracking capital flows in automotive retail for over a decade.

🔗 Learn more about Recurrent: https://www.recurrentauto.com
🔗 Learn more about AUTOVATE: https://www.autovate.org