If politicians cannot persuade consumers to buy EVs, will they tear up their net-zero pledges, or turn to other measures to drive sales?
Already a subscriber?As global electric vehicle sales growth slows, carmakers and regulators are asking an existential question: is the current slowdown a blip?
Carmakers must be prepared for either scenario. Asking senior industry executives the question over the past weeks has elicited almost an even split. “EVs are more expensive and just not as good,” says the head of one carmaker that has nevertheless pledged to phase out engine sales in the coming two decades.
How fast to ramp up EV production is a key — possibly the key — decision being taken in automotive boardrooms currently. From Ford and General Motors all the way up to Bentley, carmakers globally have pulled back EV plans to focus on hybrid models, with one eye on milking the cash cow of the internal combustion engine for just a little longer.But they may not have gone far enough. The global auto industry manufactured 10.5 million electric vehicles last year — and expects to produce 13.
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