Affordability, Not Demand, Poses Challenges For Potential EV Buyers: Report
Portfolio Pulse from Benzinga Neuro
Despite growing interest in electric vehicles (EVs), high costs are discouraging potential buyers, leading to a slowdown in demand. Major automakers like Ford and General Motors have reevaluated their EV strategies in response to this slower-than-expected growth in EV demand. Ford has paused $12 billion in planned EV investments, while General Motors has delayed its target of building 400,000 EVs by mid-2024.
November 01, 2023 | 9:48 am
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NEGATIVE IMPACT
Ford has paused $12 billion in planned EV investments due to slower-than-expected growth in EV demand.
The slowdown in EV demand and the high costs of EVs are causing Ford to pause its planned investments in this sector. This could potentially impact the company's future growth and profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
General Motors has delayed its target of building 400,000 EVs by mid-2024 due to slower-than-expected growth in EV demand.
The slowdown in EV demand and the high costs of EVs are causing General Motors to delay its target of building 400,000 EVs. This could potentially impact the company's future growth and profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100