Western Carmakers Risk Falling Behind by Slowing EV Transition Amid Market Challenges
By
smurda
5mo ago· 1 min readenInsight
65/100
Toasty
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Summary
Western carmakers face risks by slowing their transition to electric vehicles despite market challenges. While EV adoption is slower than expected and governments are easing regulations, retreating from EV investments could leave carmakers vulnerable to competition from Chinese EV manufacturers who are advancing rapidly in the global market.
Key quotes
· 4 pulledTheir customers are not embracing electric vehicles (EVs) as fast as once anticipated, and governments in America and Europe are pulling back on efforts to speed up the transition.
On December 16th the EU dropped an earlier ban on the sale of petrol cars from 2035.
Ford announced it would write down the value of its assets by $19.5bn, as it rethinks its EV strategy.
But hitting the brakes on the transition away from petrol engines could also be dangerous for Western carmakers.
Governments are tempting a shift back to petrol
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