"The auto industry bet big on electric vehicles, but now those ambitious goals are falling apart. Demand was already slowing down when Donald Trump took office and took an ax to pro-EV policy: the elimination of the federal EV tax credit, kneecapping clean energy, and bulldozing emissions rules."
"US and European automakers are taking a bath on its EV investments, forcing them to readjust their model lineup. Hybrids are the new bet, and the EV future looks further away than ever - at least for the US."
"China continues to outpace the rest of the world in EV development, and stands poised to win that future."
The automotive industry's aggressive push into electric vehicles is faltering across the United States. Demand growth has decelerated, and policy changes have eliminated federal EV tax credits, reduced clean energy support, and rolled back emissions regulations. Tariffs have further pressured the sector. Major US and European automakers are experiencing significant losses on their EV investments, prompting them to restructure their vehicle portfolios toward hybrid technology instead. The timeline for widespread EV adoption in America has extended considerably. Meanwhile, China maintains its competitive advantage and continues advancing EV technology at a faster pace than other nations, positioning itself to lead the global electric vehicle market.
Read at The Verge
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