{"id":67943,"date":"2024-05-08T13:30:49","date_gmt":"2024-05-08T18:30:49","guid":{"rendered":"https:\/\/olduvai.ca\/?p=67943"},"modified":"2024-05-08T13:30:49","modified_gmt":"2024-05-08T18:30:49","slug":"ev-euphoria-is-dead-automakers-are-scaling-back-or-delaying-their-electric-vehicle-plans","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=67943","title":{"rendered":"EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans"},"content":{"rendered":"<div class=\"PageBuilder-containerWidth100 PageBuilder-pageRow\">\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div id=\"RegularArticle-ArticleHeader-2\" data-test=\"articleHeader-0\" data-analytics=\"RegularArticle-articleHeader-2-0\">\n<header id=\"main-article-header\" class=\"ArticleHeader-articleHeader\">\n<div class=\"ArticleHeader-headerContentContainer\">\n<div class=\"ArticleHeader-wrapperHeroNoImage ArticleHeader-wrapperHero ArticleHeader-wrapper ArticleHeader-wrapperNoImage\">\n<div>\n<h3 class=\"ArticleHeader-headline\"><a href=\"https:\/\/www.cnbc.com\/2024\/03\/13\/ev-euphoria-is-dead-automakers-trumpet-consumer-choice-in-us.html\">EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-containerFluidWidths PageBuilder-pageRow\">\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div id=\"RegularArticle-KeyPoints-4\" class=\"RenderKeyPoints-keyPoints\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans.<\/li>\n<li>Though consumer demand for EVs hasn\u2019t shown up in the way executives had expected, sales of the vehicles are still predicted to increase in the years to come.<\/li>\n<li>A broad return to a more mixed offering of vehicles \u2014 with lineups of gas-powered vehicles alongside hybrids and fully electric options \u2014 assumes an all-electric future at a much slower pace, and it calls attention to ambitious EV targets set for the years ahead.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"RegularArticle-ArticleBody-5\" class=\"ArticleBody-articleBody\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div id=\"ArticleBody-InlineImage-107302077\" class=\"InlineImage-imageEmbed\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\">\n<div>\n<div class=\"InlineImage-imageContainer\" tabindex=\"-1\" data-test=\"InlineImage-pictureContainer\"><picture data-test=\"Picture\"><source srcset=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107302077-1695023625432-gettyimages-1445326837-andrew-merry-20220920-05653.jpeg?v=1710329296&amp;w=740&amp;h=416&amp;ffmt=webp&amp;vtcrop=y\" type=\"image\/webp\" media=\"(min-width: 1340px)\" \/><source srcset=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107302077-1695023625432-gettyimages-1445326837-andrew-merry-20220920-05653.jpeg?v=1710329296&amp;w=630&amp;h=354&amp;ffmt=webp&amp;vtcrop=y\" type=\"image\/webp\" media=\"(min-width: 1020px)\" \/><source srcset=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107302077-1695023625432-gettyimages-1445326837-andrew-merry-20220920-05653.jpeg?v=1710329296&amp;w=929&amp;h=523&amp;ffmt=webp&amp;vtcrop=y\" type=\"image\/webp\" media=\"(min-width: 760px)\" \/><source srcset=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107302077-1695023625432-gettyimages-1445326837-andrew-merry-20220920-05653.jpeg?v=1710329296&amp;w=717&amp;h=403&amp;ffmt=webp&amp;vtcrop=y\" type=\"image\/webp\" media=\"(min-width: 0px)\" \/><img decoding=\"async\" class=\"\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107302077-1695023625432-gettyimages-1445326837-andrew-merry-20220920-05653.jpeg?v=1710329296&amp;w=929&amp;h=523&amp;vtcrop=y\" alt=\"Although consumer demand for EVs hasn't shown up in the way executives had expected, sales of the vehicles are still predicted to increase in the years to come.\" \/><\/picture><\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Although consumer demand for EVs hasn\u2019t shown up in the way executives had expected, sales of the vehicles are still predicted to increase in the years to come.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Andrew Merry | Moment | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>DETROIT \u2014 The buzz around electric vehicles is wearing off.<\/p>\n<p>For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth. Wall Street boosted valuations for legacy automakers and startup entrants alike, based in part on their visions for an EV future.<\/p>\n<div class=\"BoxInline-container  \">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\"><\/div>\n<\/div>\n<p>Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from\u00a0<span id=\"RegularArticle-QuoteInBody-1\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/F\/\">Ford Motor<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span>\u00a0and\u00a0<span id=\"RegularArticle-QuoteInBody-2\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/GM\/\">General Motors<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span>\u00a0to\u00a0<span id=\"RegularArticle-QuoteInBody-3\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/MBG-DE\/\">Mercedes-Benz<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span>,\u00a0<span id=\"RegularArticle-QuoteInBody-4\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/VOW-DE\/\">Volkswagen<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span>, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans.<\/p>\n<p>Even U.S. EV leader\u00a0<span id=\"RegularArticle-QuoteInBody-5\" class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><a href=\"https:\/\/www.cnbc.com\/quotes\/TSLA\/\">Tesla<\/a><span id=\"-WatchlistDropdown\" class=\"AddToWatchlistButton-watchlistContainer\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><\/button><\/span><\/span>, which is estimated to have accounted for 55% of EV sales in the country in 2023, is bracing for what \u201cmay be a notably lower\u201d rate of growth, CEO Elon Musk said in late January.<\/p>\n<\/div>\n<div id=\"ArticleBody-InlineImage-107222857\" class=\"InlineImage-imageEmbed\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">&#8230;click on the above link to read the rest of the article&#8230;<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans. Though consumer demand for EVs hasn\u2019t shown up in the way executives had expected, sales of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[32101,34491,34500],"class_list":["post-67943","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-cnbc-news","tag-evs-electric-vehicles","tag-michael-wayland"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67943"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67943\/revisions"}],"predecessor-version":[{"id":67944,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67943\/revisions\/67944"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}