Stay updated with breaking news from Manuel Kallweit. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Consumers turned away from plug-in vehicles in the latter half of 2023 thanks to their heftier price-tags compared with gasoline cars and worries about battery resilience, polls show.
Investment in capacity and technology development has outrun actual EV demand, boosting pressure on companies to cut costs.
German car sales are lagging the recovery in the global passenger car market, with 2024 sales expected to be 25% below pre-pandemic levels, data from German auto association VDA showed on Tuesday. The VDA expects the global passenger car market to grow by 2% this year to 77.4 million cars, close to the pre-pandemic level of 78.8 million. Germany's passenger car market is expected to shrink by 1% to 2.82 million, still a quarter smaller than before the pandemic, the association added.
While automakers and suppliers are betting big on future demand for electric vehicles, a near-term global slowdown is causing pain, including bankruptcies, scrapped initial public offerings and...
While automakers and suppliers are betting big on future demand for electric vehicles, a near-term global slowdown is causing pain, including bankruptcies, scrapped initial public offerings and production cuts. Investment in capacity and technology development has outrun actual EV demand, boosting pressure on companies to cut costs. GM previously cut EV production targets due to the slowing demand, but Barra told analysts GM was "encouraged" by industry forecasts that EV sales in the United Stat