Automakers are scaling back or delaying their electric vehicle plans as EV euphoria seems to be cooling. A return to a mixed offering of vehicles -gas-powered, hybrids and fully electric- are what major auto manufacturers like Ford, GM and Stellantis are all pivoting towards. While none of those automakers has officially announced changes to their long-term EV goals, there’s been a notable shift in messaging. High interest rates, surging raw materials costs, and EVs becoming more expensive than gas-powered cars has slowed their adoption rate. According to Cox Automotive, the available inventory of EVs in the U.S. has ballooned to 136 days; compared to 78 days’ for the overall industry.
***Courtesy of Total Traffic News***
