However, COVID-related supply chain disruptions, especially in China, coupled with historically high inflation and a weaker U.S. and global economic outlook, bode poorly for near-term EV sales. Although most billionaire money managers have used the 2022 bear market as an opportunity to buy high-quality companies at a discount, others haven't been able to run to the exit quickly enough. Aside from the significant distraction of operating social media site Twitter, a large number of promises regarding the debut of new vehicles or innovations have failed to come to fruition.