As the car industry recovers from the lingering effects of the pandemic, the supply chain crisis and various other geopolitical obstacles, manufacturers are being forced to confront another commercial headwind that threatens to throw their production plans and investment strategies into disarray: a global drop in demand for electric cars.
Variously attributed to continued consumer uncertainty about the usability of electric cars, their high price relative to ICE alternatives and the notion that the first wave of early EV adopters have long since adopted, the global EV ‘slowdown’ – as it has been widely dubbed – has prompted many mainstream car firms to row back on electrification plans and called into question the electrification timelines that have been outlined by governments worldwide.
FORD