Startups offering electric vehicles have had a tough year so far, and it may not get any better. The issue isn’t that EV sales aren’t increasing, but rather that they’re not growing as fast as carmakers had hoped. Former Ford CEO Mark Fields explained that the expected pace of growth hasn’t materialized, leading to price cuts, rising inventories, and increased incentives from EV makers. Early EV adopters prioritize innovation and environmental impact, but the challenge now is to appeal to everyday consumers who are more concerned about cost and convenience. Charging time, infrastructure, repair costs, and resale value are key factors for these consumers. As a result, the mainstream market may not be as receptive to EVs as initially anticipated.
Published on 2024-03-17 15:01:47