Though the electric-vehicle market is having its toughest year yet, battery-powered cars are here to stay. Major automakers had to reckon with their lofty goals and adjust for shifting customer bases.
Automotive executives moved forward with several EV launches this year, adding more hybrid models—cars that industry experts say could become a bridge for future EV owners, particularly among practical and frugal shoppers.
Hybrids—once thought to be a relic of the pre-Tesla EV market—are quickly gaining in popularity as EV demand slows. Green-car shoppers increasingly value hybrids for their dual capabilities and safety net against range anxiety.
While these vehicles help solve range-anxiety issues, a lack of supply has driven up their prices, creating affordability barriers for some shoppers that could hinder broader adoption.
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