Makers of electric cars have stalled further investments as sales slowed down.
Bloomberg New Energy and Finance research predicted that it will take three years before the prices of electric batteries are comparable to internal combustion engines. As a result, even though electric vehicle sales across the total industry were 7.9% this quarter, it is only less than a one percent increase from the last quarter, which is scaring off some auto makers into different strategies.
WHERE ELECTRIC VEHICLE PROJECTS FROM THE INFRASTRUCTURE INVESTMENT AND JOBS ACT STAND
Tesla CEO Elon Musk has opted to slash the prices of his electric models, bringing its Model X SUV price tag down $79,990, from $120,990. Now, the Inflation Reduction Act’s federal tax credit for electric SUVs is applicable to the Model X now that its price is under $80,000. Musk confirmed in an earnings call last month that he w …
Electric car makers pump brakes on further investments amid slowing sales
Posted in Economy