EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans
Wed, Mar 13 2024
Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans.
Though consumer demand for EVs hasn’t shown up in the way executives had expected, sales of the vehicles are still predicted to increase in the years to come.
A broad return to a more mixed offering of vehicles — with lineups of gas-powered vehicles alongside hybrids and fully electric options — assumes an all-electric future at a much slower pace, and it calls attention to ambitious EV targets set for the years ahead.
As ESG investing — or investing geared toward environmental, social and governance principles — emerged in recent years and as Tesla rose from niche EV player to the most valued automaker by market cap globally in 2020, the automotive industry largely took note and began plotting its path forward in EVs.
https://www.cnbc.com/2024/03/13/ev-e...ice-in-us.html