EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
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Automakers including Ford, General Motors, Mercedes-Benz, Volkswagen, Jaguar Land Rover, and Aston Martin are scaling back or delaying their electric vehicle (EV) plans. Despite lower-than-expected consumer demand for EVs, sales are still predicted to increase in the coming years. The industry is shifting towards a more mixed offering of vehicles, including gas-powered vehicles, hybrids, and fully electric options. Automakers are adjusting their EV targets and focusing on meeting federal standards for carbon emissions. The slower adoption of EVs has led to price cuts on several models. The Biden administration's fuel economy and emissions standards may be dialed back due to the slower pace of EV adoption. The outcome of the U.S. presidential election in November may also impact the future of EV regulations. European automakers face stricter EV regulations, with a current aim to ban sales of traditional fossil-fuel vehicles by 2035.

#ElectricVehicles #Automakers #ConsumerChoice #EvSales #EvAdoption #EvTargets #CarbonEmissions #FuelEconomyStandards #BidenAdministration #EuropeanRegulations

https://www.cnbc.com/2024/03/13/ev-euphoria-is-dead-automakers-trumpet-consumer-choice-in-us.html