Car giants are being forced to confront some hard truths over the EV transition
Publishing timestamp: 2024-09-10 05:13:45
Summary
European car giants are struggling to meet their targets for full electrification due to challenges such as lack of affordable models, slow rollout of charging points, and potential impact of tariffs. Volvo Cars recently abandoned its plan to sell only EVs by 2030, aiming for 90-100% of sales to be electric or plug-in hybrid models. Other carmakers like Volkswagen, Ford, and Mercedes have also delayed their phase-out of internal combustion engine vehicles in Europe. Analysts believe that despite short-term uncertainties, carmakers cannot afford to miss out on EVs in the long run.
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Keywords: transportation, business, climate, autos, breaking news: business, ford motor co, eu, business news,